LEG Immobilien , one of Germany's largest listed landlords, swung to a $1.71 billion loss in 2023 as Europe's largest economy goes through its worst real-estate crisis in decades, figures on Monday showed.

Its loss for the year was 1.565 billion euros ($1.71 billion), compared with net profit of 237.4 million in 2022.

"For LEG, the peak of the real estate crisis is behind us," Chief Executive Officer Lars von Lackum said in a statement. ($1 = 0.9143 euros) (Reporting by Matthias Inverardi; writing by Tom Sims)