| Three German funds facing a May deadline to avoid liquidation aim to raise about 2.7 billion euros ($3.6 billion) selling trophy real estate including Berlin’s Potsdamer Platz and the European Bank of Reconstruction & Development’s London headquarters.
Property mutual funds run by KanAm Grund KAG and the asset- management arms of Credit Suisse Group AG and Skandinaviska Enskilda Banken AB, or SEB, must open for withdrawals in May after they were frozen in May 2010. The funds, with combined holdings of 16.4 billion euros, must liquidate if they can’t raise sufficient cash to cover redemptions...............................................Full Article: Source
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