Phoenix Spree Deutschland Limited announces the sale of a multifamily property and further sales of condominiums.
The Company has notarised the sale of Donaustrasse, Neukoln for €4.8m, a value of €2,249 per m2 or a 2.6% discount to the purchase price. The property was recently acquired (notarised for purchase in September 2022) and the sale price reflects the significant investment required to modernise the property.
The Company has also notarized the sale of two more condominium properties. One vacant unit in Zillestrasse was sold for €426,600 and a rented unit in Fregestrasse was sold for €298,000. The Company has pending reservations for four units worth €1.33m. These reservations are expected to be notarised in the next six weeks. Proceeds from these asset sales will be used to repay debt and for investment in the condominium portfolio to prepare assets for sale.
Image source - Pexels.
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