Sponda, the Finnish real estate investment company, has completed the sale of shares in property companies, properties and land sites to Whitehall Street Real Estate and Niam Nordic Investment Fund III for approximately EUR 401 mln. Sponda said it will realise a profit of roughly EUR 15 mln on the deal. A binding agreement was signed by the parties in 16 February and the deal was sealed at the end of March.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
