Deka Immobilien Purchases Historic Property in Switzerland
Leading Global law firm Baker & McKenzie has advised Deka Immobilien on the purchase the Utoschloss building, paving the business's introduction into Switzerland. The historic and protected building is a highly sought-after piece of real estate, leased out as office space. The Utoschloss building will be brought into the portfolio of public real estate fund Deka-ImmobilienEuropa.
The Utoschloss has been listed as a building of art-historical and historico-cultural importance since 1989, and comprises of approximately 4.000 square meters. It is leased out as office space to five businesses, with a unique location directly on the bank of Lake Zurich on the southern end of the Central Business District.
The purchase signifies Deka Immobilien's entry into Switzerland. Headquartered in Frankfurt, the company represents the real estate expertise of investment funds of the DekaBank, part of the Deka Group. With total customer assets totaling approximately € 240 billion as of December 2015 and around four million managed securities accounts, the Deka Group ranks among Germany’s major securities service providers.
A Baker & McKenzie team lead by Zurich-based partners Martin Furrer and Samuel Marbacher advised Deka Immobilien on this acquisition.