News Tenth Anniversary of the Credit Suisse Real Estate Fund LivingPlus
On December 5, 2017, the Credit Suisse Real Estate Fund LivingPlus celebrated its tenth anniversary. The initial issue of the real estate fund attracted extremely strong demand: its original volume had to be scaled back by half to CHF 1 750 mn, making it the largest launch of any Swiss real estate fund to date. More than 3 200 institutional and private investors participated in the initial issue.
Back then, the shares in the fund were issued for a price of CHF 100.00. On December 4, 2017, the closing price stood at CHF 132.50. In addition, initial investors have benefited from distributions totaling CHF 26.15 since the launch. As the fund owns the properties directly, shareholders domiciled in Switzerland also benefited from tax advantages, since income and capital gains from direct ownership are tax exempt for the final investor. All in all, this has seen the fund gain 5.1% per year over the past ten years.
The Credit Suisse Real Estate Fund LivingPlus is the first Swiss real estate fund to focus on demographic changes and the aging population. It concentrates on serviced apartments, retirement and nursing homes and health care real estate. As at June 30, 2017, the fund owned a portfolio of 110 properties with a market value of CHF 2 706 mn. It earns a gross yield of 4.6% on an investment volume of CHF 45.5 mn.
About the Credit Suisse Real Estate Fund LivingPlus
- First mover in the residential market for the elderly: the product focuses on qualitative growth and enjoys great trust and high credibility in the market
- Broadly diversified portfolio geographically, with a high share of traditional residential properties and properties leased to operating companies under long-term agreements
- Living services are a plus: platform of complementary, tenant-related “à-la-carte services”, focusing on additional services for older tenants
- Long-standing track record: the product has a good and long-standing track record in the residential market for the elderly, while its performance has been bolstered by a solid network of reliable partners and operating companies