UBS Real Estate GmbH has suspended all redemptions from its $469 million Euroinvest fund for up to 36 months due to a liquidity shortfall. The German subsidiary announced the freeze on March 26, 2026, following a surge in withdrawal requests that depleted available funds. This move blocks all redemption requests submitted after March 25 and halts new share issuance. The Euroinvest fund, which invests in commercial real estate across major European cities, has faced liquidity challenges similar to those that affected crypto lenders like Celsius Network in 2022. The fund's performance turned negative in 2024, losing approximately 9% over the past year as rising interest rates impacted property valuations. UBS's decision reflects broader liquidity pressures in traditional finance, with other firms like Ares Management and BlackRock also limiting withdrawals from private credit funds.