On July 10, 2012, real estate investment company Sponda Plc announced the signing of an agreement to sell logistics properties for altogether 32.5 million to the Sponda Real Estate Fund III. Closing of the transaction took place today.
Property sales will reduce the share of logistics properties in the company's property portfolio in accordance with Sponda's strategy. The transaction will also serve to finance the investments of the company.
Sponda Fund III invests primarily in logistics and industrial properties in Finland's growth centers. The new fund is aimed at domestic institutional investors. Sponda is responsible for the management of the fund as well as the properties it owns. Sponda's holding in the fund is approximately 38%.
Source: Sponda Plc