Swiss bank UBS plans to liquidate a $2bn real estate fund from Credit Suisse due to weakened commercial real estate markets.
Swiss bank UBS plans to liquidate a $2bn real estate fund acquired from Credit Suisse, due to weakened commercial real estate markets and investor redemptions. The fund, heavily invested in offices, faces selling assets at an inopportune time, affecting existing investors. Commercial real estate, particularly in the US, has seen a sharp fall in valuations due to increased office vacancy rates.
August 15, 2024
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