Phoenix Spree to invest new capital in Berlin ‘within 18 months’

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.

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