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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Phoenix Spree Deutschland Limited | LSE:PSDL | London | Ordinary Share | JE00B248KJ21 | SHS NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 2.50 | 1.53% | 165.50 | 1,293 | 08:30:11 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 165.00 | 167.00 | 165.50 | 165.50 | 165.50 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Investment Trust | EUR 27.59M | EUR -98.11M | EUR -1.0684 | -1.53 | 149.68M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 08:30:11 | AT | 193 | 165.50 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 30/4/2025 | 07:00 | UK RNS | Phoenix Spree Deutschland Limited Financial results for the year ended 31.. |
| 12/3/2025 | 12:00 | UK RNS | Phoenix Spree Deutschland Limited Continuation vote and condominium sales.. |
| 12/3/2025 | 11:49 | UK RNS | Phoenix Spree Deutschland Limited EGM Results |
| 27/2/2025 | 14:25 | UK RNS | Phoenix Spree Deutschland Limited Edison issues report on Phoenix Spree |
| 17/2/2025 | 07:00 | UK RNS | Phoenix Spree Deutschland Limited Notice of Extraordinary General Meeting |
| 07/2/2025 | 17:28 | UK RNS | Phoenix Spree Deutschland Limited Purchase of Shares by the Property.. |
| 07/2/2025 | 10:54 | ALNC |  IN BRIEF: Phoenix Spree shares rise as reports portfolio growth |
| 07/2/2025 | 07:00 | UK RNS | Phoenix Spree Deutschland Limited Portfolio Valuation and Business Update |
| 18/12/2024 | 07:00 | UK RNS | Phoenix Spree Deutschland Limited Purchase of Shares by the Property.. |
| 17/12/2024 | 07:00 | UK RNS | Phoenix Spree Deutschland Limited Debt Mod, Portfolio Sale & 2025.. |
Phoenix Spree Deutschland (PSDL) Share Charts1 Year Phoenix Spree Deutschland Chart |
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1 Month Phoenix Spree Deutschland Chart |
Intraday Phoenix Spree Deutschland Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 03/5/2025 | 14:00 | ;;; PHOENIX SPREE DEUTSCHLAND ::: | 766 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 07:30:11 | 165.50 | 193 | 319.42 | AT |
| 07:02:07 | 165.17 | 1,100 | 1,816.90 | O |
| 2025-05-21 15:35:25 | 163.00 | 8,641 | 14,084.83 | UT |
| 2025-05-21 14:05:07 | 166.98 | 600 | 1,001.88 | O |
| 2025-05-21 13:54:29 | 166.98 | 600 | 1,001.88 | O |
| Top Posts |
|---|
Posted at 22/5/2025 09:20 by Phoenix Spree Deutschland Daily Update Phoenix Spree Deutschland Limited is listed in the Real Estate Investment Trust sector of the London Stock Exchange with ticker PSDL. The last closing price for Phoenix Spree Deutschland was 163p.Phoenix Spree Deutschland currently has 91,827,363 shares in issue. The market capitalisation of Phoenix Spree Deutschland is £149,678,602. Phoenix Spree Deutschland has a price to earnings ratio (PE ratio) of -1.53. This morning PSDL shares opened at 165.50p |
Posted at 03/5/2025 14:00 by davebowler ?Phoenix Spree Deutschland looks to rise from the ashes as values turn a corner30 April 2025QuotedDataEurope (EU and EEA ex UK)Show 4 SectorsPhoenix Spree Deutschland : PSDLRichard Williams?Phoenix Spree Deutschland, which is undergoing a portfolio realisat |
Posted at 25/3/2025 20:46 by cerrito theoakbloke@substackSome of you may have come across the writings of the above. Usually his articles give me food for thought. He has just written something on PSDL which given the lack of analysis there is on PSDL, I plan to read. |
Posted at 07/3/2025 15:57 by cerrito Be interesting to see how the big macro moves in Germany at the Federal level impacts the valuations of apartments in the Berlin property market in £ terms.In the meantime the following is the synopsis of the Berlin rental market from Berlin estate agent Guthmann Shame on me, I did not organize myself to vote in the continuation vote. I have yet to read the Edison report with the attention it deserves, but to me a quick reading of their estimate of net realization value of E3.49 is plausible. quote Dear Readers, The Berlin real estate market is concluding its price correction phase. Compared to the same period last year, offer prices have increased by 2.80 %, while rental offers have risen by approximately 13.50 %. Prices are rising in 12 of 21 former districts. Initial signs of a trend reversal are also becoming evident in the apartment building market. According to our analysis, as of 04.03.2025, the average offer prices for existing properties stand at 5,470 EUR/m². The median actual transaction price for an existing apartment is €4,980/m², calculated based on 11,371 notarized sales we analyzed. New construction properties have reached a median offer level of 8,420 EUR/m² with closing prices of €7,980/m². This represents an increase in offer prices of 3.30 %, while actual purchase prices are lagging slightly at approximately 3%. This analysis is based on 1,464 transactions completed in 2024. You can read more about the relationship between offer prices and actual closing prices later in this report. Demand pressure in the rental segment remains consistently high. Offer rents continue to rise, with a significant disparity between existing rental contracts and new offer rents. This is confirmed by the latest census data. You'll find more details on existing rental rates and new contract rents below. The impact of the recent federal election on the Berlin real estate market remains entirely open. Regardless of political developments, our analyses will continue to provide you with the most reliable foundation for your decisions in 2025. Enhanced reports with current transaction data give you comprehensive insights, while our buyer and seller network offers decisive market advantages. unquote |
Posted at 08/2/2025 10:31 by smithie6 message to Berlin city council.Your interference in the property market means that PSDL is selling its rental properties. I assume that many other rental property owners have also been selling their properties. The number of properties available to renters is hence surely reducing. The city council may think it is clever in limiting the rental price to X €/m2 but if there are actually no apartments available (2-3 years later) at the controlled price of X €/m2 it is a hollow claim from the city council !! And renters are not being well served by the Berlin city council if they can not find a flat to rent (because a lot of rental flats have been sold) & perhaps a renter has to rent a flat 20km away (outside Berlin's rent controls) & then travel every day in/out of Berlin. And pay for the cost of that travel every working day & lose a % of their life travelling. |
Posted at 08/2/2025 10:23 by smithie6 Why does the company sign so many new apartment rental leases/contracts in a year when it is supposed to be selling apartments & PSDL says that apartments get a much higher price if sold unoccupied ?Surely the company should not sign new rental contracts & instead just sell the empty apartments ? Is it 255 new rental contracts in a year... at say 300k€/flat, = 76.5 million € whereas in '24 only 10million € of flats were sold (1/2 occupied & 1/2 unoccupied) ====== an unoccupied flat might be sold at 1000-1500€/m2 more than an occupied one. if 70m2 that is 70-105 k€ higher selling price The rent is ~3%. value at 3600€/m2 occupied, is 252k € 3% rent yield is ~7600€ 10 years of rent equals the difference between selling occupied or unoccupied so, for Phoenix to renew any rental contract for an apartment that can be sold on its own appears imo to be COMPLETELY INSANE ! (& Phoenix typically renews 255 rental contracts per year. but are any of them for an apartment that could be sold on its own ?) ===== Are QSix in reality dragging their heels on doing property sales ? Berlin is a big city, there are a lot of people looking to buy a flat. Instead of renewing a rental contract, just sell the flat. 255 rental contract renewals in '24 or '23 if sold instead at 300k€/flat = 255 x 300k€ = 76 million €. but Phoenix only achieved sales of 10million € ! What excuse has QSix got ? I can not see any real justification. The excuse that the lender would not allow it in '24. That imo is a blatant LIE !! The lender would imo have no objection at all to debt being repaid (since they could then lend out that money at a higher % rate) & PSDL text says there is no penalty for early repayment. And if 76 million € had been repaid due to selling flats the LTV % would have been reduced, which the lender would have been happy about. |
Posted at 07/2/2025 08:52 by cerrito No surprise to me that the share price has gone up this morning.From the way the RNS is worded I assume the continuation vote will go through. Good to see the make up of the portfolio between PRS and Condominium so clearly spelt out..I had not seen that before. Seems we will need patience with the 50% share that is PRS. |
Posted at 17/12/2024 14:14 by davebowler Edison-Phoenix Spree Deutschland (PSD) has completed the strategic sale of a 16-building portfolio of rental properties. Under its amended financing terms, PSD can now significantly accelerate condominium (condo) sales, exploiting the wide sales premium over investment property valuations. This is central to an orderly realisation strategy aimed at maximising shareholder value, which we believe is materially ahead of that implied by the share price. Disposal proceeds will first be used to repay existing debt ahead of the 2026 maturity, although refinancing options to accelerate shareholder distributions are possible. Following the 16-building sale, the remaining portfolio comprises 75 buildings. Of these, 61 (c 1,700 units) are primarily (80% of the units) legally split as condos. The other 14 buildings (c 500 units) are not split and will be operated as private rental properties. Under the new debt arrangements, the number of buildings that PSD is able to market as condos at any point in time has increased from six to 40, representing c 950 units. An initial phase of 16 buildings, including those already available for sale, will be marketed by end-2024, a further 24 by mid-2025, and further buildings will be added, subject to future financing arrangements. PSD is targeting an increase in condo sales to €50m pa by end-2025, increasing thereafter, and has already strengthened its sales capability by engaging two of the leading sales platforms. The portfolio was sold to funds managed by Partners Group for €76m, most of which will be used to repay borrowings, with the balance available for capex and general corporate purposes. The net loan to value ratio (LTV) is expected to reduce to 42.7% (H124: 46.5%). The cost of debt will increase slightly (to 2.9% from 2.6%). While this strategic portfolio sale will reduce EPRA NTA by c 8%, from €3.68 per share at H124 to a pro-forma €3.39, it is the key to unlocking material value within the wider portfolio. Condo sales in FY24 have been at an average €4,122 per sqm, a 19% premium to the external portfolio valuation, which is mostly on a ‘rental valuation basis’, with just 5% on the higher ‘condo’ basis. PSD expects half of the portfolio buildings to be valued on a condo basis at end-FY24 and says that current market evidence supports achievable condo sales values of c €5,000 per sqm for vacant units and €3,500 for those occupied. The board believes that the enhanced, managed realisation strategy will maximise shareholder returns and has brought forward (to 17 February) the continuation vote that was due by June 2025. Should this not pass, it will be required to consider alternatives, including voluntary liquidation. We will update our asset sale analysis conducted in June which highlighted the potential to at least maintain NAV, representing a very material uplift to the current share price. |
Posted at 02/12/2024 15:42 by davebowler Missed this from Quoted data 24 SeptPhoenix Spree Deutschland (PSDL) has modified conditions on its debt facility with Natixis Pfandbriefbank AG to allow a greater number of buildings to be sold as condominiums from 6 currently to 40, representing around 900 units. The debt amendment is conditional on the company paying down other debt to provide more properties as collateral. PSDL said it was in advanced discussions to sell a portfolio of 16 rental buildings to allow this to happen. In line with its accelerated condominium sale strategy, the company has engaged two leading Berlin condominium sales platforms and earmarked 10 buildings for the first sales tranche, increasing the total number of condominiums that can be made available for sale from 75 units currently to 250 units by year-end 2024, with a further 24 properties expected to be made available for sale in the first half of 2025. The company is targeting condominiums sales because of the substantial premiums that can be achieved to equivalent single rental building valuations. During the first half of 2024, PSDL notarised 15 condominiums for sale at an average price of €4,292 per sqm. This represents a 23% premium to the portfolio valuation and a 57% premium to the portfolio value implied by the current share price. |
Posted at 13/3/2024 10:32 by hugepants I bought back some based on this mornings updateStatement Re Share Price movement The Board of Phoenix Spree Deutschland Limited (LSE: PSDL.LN), the UK listed investment company specialising in Berlin residential real estate, notes the recent movement in the Company's share price. The board believes that this reflects index reweighting ahead of the removal of the Company from the FTSE EPRA index, which will become effective on Monday 18th March. The Board can confirm that it is not aware of any adverse material change relating to the Company's trading, which remains consistent with the business update issued on 7 February, highlights of which are reiterated below. The Board considers the current share price, which values the Company at a 67 per cent discount to the most recently published EPRA NTA, and implies a value per square metre of approximately half the cost of construction, does not reflect the value of the underlying assets within the Portfolio........ |
Posted at 14/3/2023 10:06 by kenmitch Below is a post I did a couple of days ago on the very good “The Commercial Property Thread,” but in case not seen there I’m posting it here too.“I agree with SKYSHIP that EBOX looks the best of them all at present. Close behind is one rarely covered on this thread, Berlin Property REIT, PSDL. PSDL is at a 52% discount to 494p NAV. PSDL results are due at the end of this month. NAV sure to have fallen but possibly not by much. Dividend is small which will put some off, but as long as their results update reassures, share price upside could be large. This might interest a few, but I’ll refrain from posting my views yet again so will just give the facts and the odd question. PSDL started their last series of buybacks in June 2021 when the discount to NAV was 17% “a level that does not reflect the track record and performance of the Portfolio.” The share price at the start of those buybacks was 397p compared with 236p now. When those buybacks concluded in July 2022 the share price had fallen from the near £4 at the start of them to £3.20 and that “too wide discount” had widened further. Earlier in September 2019 “the Company has bought back 5.1% of its shares as part of a buyback strategy designed to limit the downside risk to the share price.” Share price then was 390p. Did those expensive buybacks achieve their aim of “limiting the downside risk to the share price?” In their interim results in September 2022 (two months after completion of buybacks) PSDL reported “€63 million has been returned to shareholders from dividends and buybacks.” Really? The share price has fallen 40% from £4 at the start of those buybacks, to just £2.36! Is that really “returning money to shareholders” or is it in reality a 40% loss? Now that the share price looks really cheap and at a massive 52% discount, compared with the 17% discount PSDL were keen to narrow via buybacks, perhaps there IS a case for buying back now. But they have stopped buybacks! I bought PSDL too soon and am 16% down. I’m looking to average down but will wait for their results just in case there’s a big fall in NAV (I think a small fall is more likely) or any shock bad news that might explain the exceptionally wide NAV discount. If no such shocks PSDL looks a stunning bargain priced buy.” |
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