London-listed German residential investor Phoenix Spree Deutschland plans to invest the £38 mln (€48.64 mln) it has just raised by issuing 19.64 mln new shares in Berlin ‘within the next 12 to 18 months’, Jörg Schwagenscheidt, managing director of PMM Partners in Germany, which manages Phoenix Spree, has told PropertyEU.
German-listed real estate company Branicks Group has sold a retail property in Bremen city centre to municipal urban developer Brestadt for €37.2 mln.
