Credit Suisse said it has reached its equity raising target of CFH 300 mln (EUR 200 mln) for its Real Estate Fund Green Property. The fund was open for subscription from 15 to 29 April 2009.
Credit Suisse said it has reached its equity raising target of CFH 300 mln (EUR 200 mln) for its Real Estate Fund Green Property. The fund was open for subscription from 15 to 29 April 2009.
The vehicle is the first Swiss real estate fund to invest in properties and real estate projects that meet sustainability and energy-efficiency criteria. Credit Suisse said the selected projects and buildings are for the most part situated in economically strong and urban locations in Switzerland, and meet the strict requirements of the new greenproperty® seal of approval. The company said it has already secured projects worth a total of CHF 220 mln for the fund.
The greenproperty seal covers not only ecological criteria, but also includes economic and social aspects. Property is assessed by independent appraisers certified by the Swiss Financial Markets Supervisory Authority (FINMA). Buildings approved under the scheme are subjected to an annual check.
