Phoenix Spree Deutschland Ltd (PSDL) NPV

Phoenix Spree Deutschland Limited is a Jersey-based investment company specializing in Berlin residential real estate. The Company invests in residential and commercial property in Germany. The Company’s objective is to generate an attractive return for shareholders through the acquisition and active management of high-quality pre-let properties in Berlin, Germany. It is primarily investing in the residential market in Berlin, supplemented with selective investments in commercial property. The majority of commercial property within the portfolio is located within residential and mixed-use properties. Its portfolio consists of approximately 93 properties containing 2,472 residential units and 138 commercial units, with a total lettable area of around 186,500 square meters. Its subsidiaries include Phoenix Spree Deutschland I Limited, Phoenix Spree Deutschland VII Limited, Phoenix Spree Deutschland X Limited, and others. Its property advisor is QSix Residential Limited.

To realise the value of its existing assets through a carefully managed portfolio realisation, resulting in a managed sell down of the Company’s portfolio over time, with a view to returning available cash to Shareholders.

• Ongoing charge1.20%
• Annual management charge -
• Performance feeYes

Management fee of 1.20% of the EPRA NAV equal to or less than Euro 500 m and 1% of the EPRA NAV greater than GBP 500 m. Performance fee is 15% of the excess by which the EPRA NAV total return exceeds 8% p.a.The performance fee is 15% measured over consecutive three-year periods.