Secure Property Development and Investment PLC transfers Ukrainian property to Arcona
Why we think this is neutral
The RNS announcement provides limited details on the rationale and strategic benefits of the property transfer to Arcona. While the transaction values the Kiyanovskiy Residence property at a reasonable level, the lack of context around SPDI's broader plans makes it difficult to assess the long-term implications. Without more information, this appears to be a routine portfolio adjustment rather than a transformative event.
Key Points
- SPDI is transferring a 100% interest in the Kiyanovskiy Residence property to Arcona Property Fund
- The transfer values the Kiyanovskiy Residence at around €1.8 million
- SPDI will receive €1.05 million in cash and 68,782 new shares in Arcona
- The transaction is part of the broader Arcona Transaction to transfer SPDI's property portfolio
Summary
Secure Property Development and Investment PLC (SPDI) is transferring a 100% interest in the Kiyanovskiy Residence property near Kyiv, Ukraine, to Arcona Property Fund N.V. in exchange for around €1.05 million in cash and the issue of 68,782 new shares in Arcona. The transfer values the Kiyanovskiy Residence at approximately €1.8 million. This transaction is part of the previously announced transfer of SPDI's property portfolio to Arcona to create a larger Central and South Eastern European focused investment vehicle.