Phoenix Spree Deutschland Ltd (GB:PSDL) has released an update.
Phoenix Spree Deutschland Ltd, a Berlin real estate investor, has announced a strategic shift towards accelerating condominium sales and reducing debt, as detailed in their interim results. Despite a challenging market with subdued buyer sentiment, there’s a bright spot with condominium sales fetching a significant premium and rental re-letting premiums hitting a record high due to supply shortages. The company is optimistic about the future, citing the legal registration of 80% of their portfolio for condominium sales and the intention to refinance their main lending facility by September 2026.
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