Credit Suisse Shuts Down €6B German Property Fund

Law360, New York (May 21, 2012, 2:47 PM EDT) -- Unable to keep pace with payments to investors in one of Germany's biggest open-ended property funds, Credit Suisse Asset Management has decided to dissolve its €6 billion ($7.7 billion) CS Euroreal fund, according to an announcement Monday.

The Credit Suisse AG unit will sell off Euroreal's 99 Class A properties over the next five years, with investors to receive dividend payouts every six months starting in the second half of this year, according to a statement the asset manager's real estate division issued Monday.

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