Sponda Sold Shopping Centre and Office Building in Moscow

Finland — Finnish Property investment company Sponda has sold shopping centre known as Solnechniy II as well as the Bakhrushina House office building in Moscow for the price of € 42 M to Horizon Properties Ltd.

2015-06-26

Sponda will record a sales profit of approximately € 1.2 M from the transaction in comparison with the market value of the first quarter of 2015.

“We are pleased that we have been able to complete this transaction in spite of the challenging market situation,” says Kari Inkinen, President and CEO of Sponda.

The Solnechniy II shopping centre was completed in 2005. The shopping centre has approximately 6,500 sqm of leasable retail premises and a parking facility that can accommodate 110 cars. The Shopping centre is fully leased.

The Bakhrushina House office building is located at 32 Bakhrushina Street in the centre of Moscow. The office building was completed in 2002, with nearly 4,000 sqm of leasable area, and is fully rented.