The repeal of the Berlin rent cap (the ‘Mietendeckel’), ruled unconstitutional, is a significant positive for Phoenix Spree Deutschland (PSD). It allows a resumption of its core reversionary rent strategy, providing greater flexibility in the extraction of the value embedded in the portfolio. With a continuing discount to net assets, the board has stepped up the share repurchase programme, aiming to ensure that the share price better reflects its view of intrinsic value and the improved outlook.

15 Jun 2021
Phoenix Spree Deutschland - Flexibility to extract value


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Phoenix Spree Deutschland - Flexibility to extract value
Phoenix Spree Deutschland Fund (PSDL:LON) | 344 27.5 2.4% | Mkt Cap: 317.3m
- Published:
15 Jun 2021 -
Author:
Martyn King -
Pages:
9 -
The repeal of the Berlin rent cap (the ‘Mietendeckel’), ruled unconstitutional, is a significant positive for Phoenix Spree Deutschland (PSD). It allows a resumption of its core reversionary rent strategy, providing greater flexibility in the extraction of the value embedded in the portfolio. With a continuing discount to net assets, the board has stepped up the share repurchase programme, aiming to ensure that the share price better reflects its view of intrinsic value and the improved outlook.