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Phoenix Spree upbeat in Berlin

Phoenix Spree Deutschland, the UK listed investment vehicle targeting German residential real estate, has quadrupled its interim pre-tax profits and posted a 22.3% hike in net asset value in the six months ended 30 June.
CoStar News
September 26, 2017 | 4:57 P.M.

The investor which has been selling down non core German residential exposures to focus specifically on the Berlin market said gross rental income was up 25% year-on-year to 9.5m, (H1 2016 7.6m) while profit before tax was up 303% year-on-year to 63.1m, (H1 2016 15.7m).

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