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2008-10-21 08:53:06 CEST 2008-10-21 08:54:02 CEST REGULATED INFORMATION Sponda - Company AnnouncementSponda sells retail and office property in Espoo to Tapiola KR III Ky property fund for EUR 28.3 millionSponda Plc Stock Exchange Release 21 October 2008 at 9.50 am Sponda sells retail and office property in Espoo to Tapiola KR III Ky property fund for EUR 28.3 million Real estate investment company Sponda Plc has signed a binding agreement to sell a retail and office property Tapiolan Toimitalo located in the centre of Tapiola, Espoo to Tapiola KR III Ky property fund for EUR 28.3 million. The property, located at Länsituulentie 7, contains 5,000 square metres of retail premises and 2,300 square metres of offices. Sponda is recording a capital gain of approximately EUR 9 million on the sale. The sale is to be finalised by the end of October. The centre of Tapiola is under extensive development in the future. The transaction ensures that the ownership of the properties in the centre of Tapiola is concentrated. This, in turn, ensures the future development investments in the area. Sponda Plc Further information: Kari Inkinen, President and CEO, tel. +358 20 431 3311 Sponda Plc is a real estate company specializing in commercial properties in the largest cities in Finland and in Russia. Sponda's business concept is to own, lease and develop office, retail and logistics properties into environments that promote the business success of its clients. The fair value of Sponda's investment properties is approximately EUR 2.8 billion euros and the leasable area is around 1.4 million m². |
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