Phoenix Spree Deutschland Limited     
(the "Company", the "Group" or "PSD")

QSix appoints Christian Daumann as Chief Executive Officer of QSix Germany

QSix, the specialist real estate asset manager, is pleased to announce that Christian Daumann will be appointed as Chief Executive Officer of its German operations with effect from 1 March 2024. Christian will succeed Jörg Schwagenscheidt, who has been CEO of QSix Germany since 2015. Jörg will remain a partner of QSix Group, focussing on QSix Germany's strategic initiatives and leveraging his extensive experience, industry contacts and political relationships.  

Christian has over 25 years' experience in the real estate investing, asset management and finance sectors during which he has built an excellent global network. Christian joins QSix from Ivanhoé Cambridge, the real estate subsidiary of the Quebec state fund and global investment group CDPQ, where he spent the last four years as Head of Investments, Germany. During his tenure there, he played a pivotal role in building Ivanhoe Cambridge's platform in Germany, overseeing value-add and opportunistic investments in residential, logistics and mixed-use assets, heading asset management from 2019-2022. Under his supervision, Ivanhoe Cambridge's investments grew exponentially, tripling in value to surpass €1 billion in under three years.

Christian has also previously held senior positions at Morgan Stanley, where he grew the expansion of Cerberus/LNR to more than €4.5 billion of distressed loans under management during the global financial crisis. He was CEO of market listed Anterra AG and a board member at Hamburg Trust, then co - owned by Colony Capital, where he was in charge of Asset Management and Investing with a focus on residential, micro apartments and student housing investments. Christian started his career in the restructuring group of Heleba commercial bank where he focussed on restructurings of large scale distressed commercial real estate debt.

Christian's deep understanding of the German market and expertise in managing a diverse portfolio of real estate assets will be highly valuable to QSix, which invests in German residential property across two strategies, the LSE-listed fund, Phoenix Spree Deutschland (PSD), and in cooperation with affiliates of Partners Group, the global private markets firm.

Mike Hilton, Chief Executive Officer of QSix, commented:

"We are delighted to welcome Christian to QSix. We will benefit from his outstanding track record of success in deal execution and breadth of industry knowledge as we continue to manage and invest in our portfolio of German assets. We look forward to working with both Christian and Jörg as we continue to strengthen our existing presence in the German real estate market."

Jörg Schwagenscheidt, Current Chief Executive Officer of QSix Germany, commented:

"It has been a privilege to lead QSix's German operations over the past nine years and I am proud to have overseen growth of the company's presence in Berlin. I would like to extend my thanks to our exceptional team who have worked hard to get QSix to where it is today and, going forward, I look forward to working with Christian in a more strategic capacity. Our key priority is to focus on PSD, with a view to extracting the maximum value from its portfolio of assets in the current challenging market."

END

For Further Information, Please Contact:

Phoenix Spree Deutschland Limited                                              +44 (0) 20 3937 8760

Stuart Young

Numis Securities Limited (Corporate Broker)                               +44 (0) 20 7260 1000

David Benda

Teneo (Financial PR)                                                                         +44 (0) 20 7353 4200

Lizzie Snow
Annushka Shivnani

About QSix

QSix is an established specialist real estate asset manager with over £1bn of AUM. Founded in 2006, it has a strong track record of delivering attractive, risk-adjusted returns for investors through uncovering differentiated investment opportunities in: German real estate, Commercial Real Estate Lending and UK Housing & Specialist Mortgages.