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LONDON (Alliance News) - Phoenix Spree Deutschland Ltd, a London-listed German residential real estate investor, on Thursday said the value of its portfolio rose by 15% over the course of 2015, according to an independent estimate.
The portfolio was valued by Jones Lang LaSalle GmbH at EUR282.8 million at the end of 2015, versus EUR245.3 million 12 months earlier.
"This increase in valuation reflects yield movement and adjustments due to improved property condition; rental income increases; decreasing vacancy; market rent adjustments; and the net impact of acquisitions and disposals," Phoenix Spree Deutschland said.
Shares in Phoenix Spree Deutchland were up 2.1% at 167.00 pence on Thursday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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