Credit Suisse’s Asset Management business today announced that CS Euroreal, its open-ended real estate fund, has achieved an average occupancy rate of 95.5% across its European portfolio and has let more than 861,000 sq ft since October 2008.
Two new leases have been signed in the last six months, including a telecoms firm, which took 51,400 sq ft in a property on Ernst–Reuter–Platz in
CS Euroreal owns a portfolio of 113 properties in 56 locations across eleven European countries, with a total of 16m sq ft of rental space.
It returned 4.5% over the period April 2008 to April 2009.
Karl–Heinz Heuss, managing director of Credit Suisse Asset Management Immobilien Kapitalanlagegesellschaft, said: “This robust performance demonstrates that CS Euroreal is a stable investment even in periods of turbulence.
“The high occupancy rate generates a strong and steady rental income, and with nearly 90% of our rental agreements running beyond 2010, CS Euroreal is in a strong competitive position in 2009.”
