Real estate investment company Sponda Plc announces that it has signed a binding agreement to sell three logistics properties for altogether €16.3 million to the Sponda Real Estate Fund II. The sale will not affect the financial result, and it is planned to close the deal by the end of December 2008.
The properties being sold are located in Kuusankoski, Mikkeli and Oulu. They have a combined leasable area of some 16,000 m² and are fully leased.
In this transaction Sponda is selling properties that are outside its strategic area. As stated in the company's strategy, Sponda is focusing on owning properties in the largest cities in Finland and Russia.
The Sponda Real Estate Fund II mainly invests in logistics, warehouse and industrial properties in medium-sized towns in Finland. Sponda manages the fund and the properties owned by the fund, and has a minority holding in the fund.