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Ho Bee Land to invest €40M in European property fund

Ho Bee Land Ltd. agreed to invest as much as €40 million in Credit Suisse's European fund and to co-invest up to an additional €50 million by buying notes issued by Clouse SA Compartment 29.

The CS Real Estate SICAV-SIF I — Credit Suisse (Lux) European Property Fund II invests in real estate or real estate investment structures in key cities in Europe.

Clouse SA, a public limited liability company set up in Luxembourg, will issue the notes through private placement. Proceeds from the placement will be invested in a commercial property in Munich, called Correo.

The investments are in line with the company's strategy of geographical divesification and to optimize returns on its available funds, according to a release.