The Credit Suisse Real Estate Fund PropertyPlus (CS REF PropertyPlus) continued its profitable growth course in 2010 and expanded its real estate portfolio to CHF 1.2 billion. Rental income was increased by 17.9% to CHF 56.8 million. The tax-free distribution per unit rose to CHF 4.10 (from CHF 3.90 in the last year). With a return of 7.7%, the fund beat its benchmark by 2 percentage points. Investment costs for current projects reached CHF 165 million.