Offshore legal, fiduciary and administration services provider Appleby has advised Phoenix Spree Deutschland in relation to its flotation on the main market of London’s Stock Exchange on 15 June 2015.
Phoenix Spree, a closed-ended investment company, invests in multi-apartment rental properties in Berlin, Hanover, Bremen and Nuremberg, and has a portfolio of 114 properties comprising 2,822 units in Germany, independently valued at an estimated €245 million.
Appleby also acted as lead counsel with regards to the complex restructuring of the Jersey-listed fund into its acquisition of a German-related fund for the company.
Appleby Corporate Partner, Andrew Weaver led on the deal supported by Chris Spencer, Associate in the Corporate Department. Stephenson Harwood acted as lead advisers to Phoenix Spree Deutschland on the floatation.