Credit Suisse REIM takes stock of the first half of the year
With 26 sales in a volume of just under EUR 1.0 billion, Credit Suisse Real Estate Investment Management continued to wind up CS Euroreal and CS Property Dynamic in the first half of 2015. In the first six months of the year, it handled a total of 62 real estate transactions with a volume of around EUR 1.5 billion: 20 purchases for around EUR 430 million and 42 sales for just under EUR 1.1 billion.
Investors in CS Euroreal will receive a distribution of around EUR 500 million on July 28, 2015. This corresponds to EUR 4.80 per unit for the EUR tranche of the fund. Since the launch of the fund's liquidation, around EUR 2.7 billion or approximately 46.2 percent of fund assets have thus been paid out to unit holders. The proceeds from the sale of CS Property Dynamic will initially be used to repay bank loans.
With the first Swiss fund for Swiss logistics real estate and an investment foundation for Swiss pension funds focusing on commercial real estate in Germany, Credit Suisse was able to realize two further product concepts. Furthermore, the CS (Lux) European Property Fund, the first real estate fund on the Luxembourg platform of Credit Suisse Real Estate Investment Management, was launched. In addition, the first investments are expected to be made as early as summer 2015 for an investment club that will be open exclusively to wealthy Credit Suisse clients. (mr)
