Phoenix Spree Deutschland Limited, a UK-listed investment company specializing in Berlin residential real estate, released its financial results for the year ended December 31, 2024. The company reported a gross rental income of โฌ28.1 million, a slight increase from the previous year. The loss before tax was โฌ39.5 million, a significant improvement from the loss of โฌ111.8 million in 2023. The companys portfolio value increased by 0.8% on a like-for-like basis, with a total value of โฌ552.8 million as of December 31, 2024. The condominium sales strategy accelerated, with 26 units sold for a combined value of โฌ9.4 million, a 31% increase from 2023. The companys net debt decreased by โฌ89.9 million during the year, lowering the net loan-to-value ratio to 40.3%. The Board provided an update on the companys strategy, which includes a continuation vote, a shift towards condominium sales, and ongoing refinancing discussions. The full Annual Report and Accounts will be available on the companys website.