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Equity Bottom-Up

Phoenix Spree Deutschland / Equity Bottom-Up

<p>Phoenix Spree Deutschland (PSD) has completed the refinancing of its debt facilities, a significant step forward in its orderly wind-down and managed realisation strategy and paving the way for capital to be returned to shareholders. With condominium sales continuing to run ahead of plan, the company expects to launch a programme of compulsory pro rata share redemptions, settled in cash, starting in 2026.</p>

Phoenix Spree Deutschland (PSD) has completed the refinancing of its debt facilities, a significant step forward in its orderly wind-down and managed realisation strategy and paving the way for capital to be returned to shareholders. With condominium sales continuing to run ahead of plan, the company expects to launch a programme of compulsory pro rata share redemptions, settled in cash, starting in 2026.

Phoenix Spree Deutschland — Further progress with releasing value