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Phoenix Spree Deutschland sells non-core portfolio

07 April 2017 07:30

Phoenix Spree Deutschland has exchanged contracts to sell a portfolio of 17 non-core properties in Nuremberg and Furth for a total of €35.25m cash.

The properties were acquired in 2007 and 2008 for an aggregate purchase price of €13.9m. Sale proceeds represented an 11% premium to the 31 December 2016 Jones Lang LaSalle valuation.

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