Sponda Plc has sold seven logistics properties to Sponda Real Estate Fund I Ky, a logistics property fund established on 30 June 2006. The properties are located in Tampere, Turku and the Lahti region and have a fair value of some €37 million. At the same time the other participating investors in the fund also sold some of their properties to the fund, and its property portfolio has a combined value of €80 million.
The targeted size for the fund is approximately €200 million. The institutional investors involved in setting up the fund are Mutual Insurance Company Pension Fennia, Fennia Mutual Insurance Company, Fennia Life Insurance Company Ltd, Veritas Pension Insurance Company Ltd, Veritas Life Insurance Company Ltd, Assai Oy and Etera Mutual Pension Insurance Company. Sponda has a 47% holding in the fund and is responsible for providing management services for the fund and the properties.
The properties owned by the fund are located in different parts of Finland, such as Vantaa, Turku, Tampere and Nastola. The fund's strategy is to invest in logistics properties mainly outside the Greater Helsinki region.