Stuttgart/Munich – The recently launched Credit Suisse Real Estate Fund Global (CS REF Global) has acquired Karlshöfe, a high-quality commercial property in Munich. Together with the acquisition of another property in Rotterdam, this has enabled the Swiss real estate fund to invest one third of the issue volume in attractive properties outside Switzerland, providing a cornerstone for the portfolio.
A team from CMS Hasche Sigle led by lead partner Dr Dirk Rodewoldt advised Credit Suisse Real Estate Fund Global on buying Karlshöfe in Munich. The office building comprises a total of eight floors, two of which are basement levels with 42 parking spaces. The property offers more than 11,500 sq m of lettable space. Built in 2005, it is located in downtown Munich, approximately five minutes' walk from the main railway station. CMS Hasche Sigle regularly advises Credit Suisse funds, most recently in the summer of 2011 when the Kant-Center in Berlin was acquired.
CS REF Global is the first Swiss real estate fund to invest in a diversified range of foreign properties and be listed on the SIX Swiss Exchange. Accordingly, the fund is not restricted to institutional investors – private investors can also use it to gain access to this asset class. The property fund aims to invest roughly a third of the portfolio in European countries (excluding Switzerland), a third in the Asia-Pacific region, and a third in the Americas. It focuses on high-quality commercial properties.
Advisers CMS Hasche Sigle
Dr Dirk Rodewoldt, Lead Partner
Dr Simon Marschke,
Selma Cilo, all Real Estate