Finnish property company Sponda has reported first quarter operating profit of EUR 46.5mln, a significant drop on the EUR 103.4mln result in the same period in 2007 - but still ahead of forecasts. The higher than expected results were due to improved occupancy rates and higher average rents. Analyst forecasts of the company's operating profits ranged from EUR 32mln to EUR 33.7mln.
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
