H220 condominium sales increased strongly at a healthy c 20% average premium to book value and disposal proceeds have supported continuing share repurchases at a c 30% discount to net asset value (NAV), enhancing value creation. As discussed in detail in our December initiation note, pending a resolution of the rent cap legal challenge, so far Phoenix Spree Deutschland (PSD) has sought to mitigate the effects while maintaining strategic flexibility; a resolution, which PSD expects mid-year, will ....
07 Jan 2021
Phoenix Spree Deutschland - Continuing to realise embedded value
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Phoenix Spree Deutschland - Continuing to realise embedded value
Phoenix Spree Deutschland Fund (PSDL:LON) | 151 6.1 2.7% | Mkt Cap: 138.9m
- Published:
07 Jan 2021 -
Author:
Martyn King -
Pages:
5
H220 condominium sales increased strongly at a healthy c 20% average premium to book value and disposal proceeds have supported continuing share repurchases at a c 30% discount to net asset value (NAV), enhancing value creation. As discussed in detail in our December initiation note, pending a resolution of the rent cap legal challenge, so far Phoenix Spree Deutschland (PSD) has sought to mitigate the effects while maintaining strategic flexibility; a resolution, which PSD expects mid-year, will ....