Leading global law firm Baker McKenzie has advised Schroder ImmoPLUS, a listed real estate mutual fund, on the purchase of a portfolio of three retail assets in Switzerland. The transaction was managed by Schroder Investment Management (Switzerland) AG. The 51,500 sqm portfolio comprises three assets in Villeneuve (16,500 sqm), Etoy (20,000 sqm) and Lucerne (15,000 sqm). All three properties are let to a subsidiary of Hornbach Baumarkt AG, one of Europe’s largest DIY operators, on recently re-geared leases with an annual income of circa CHF 6 million.
Schroders is a global asset management company with CHF 463 billion under management. Their clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors, operating from 38 offices in 28 countries across Europe, the Americas, Asia, Middle East and Africa.
Baker McKenzie's Zurich office advised Schroder on this share deal, with a team comprising of Alexander Wyss (Partner), Alexander Seiler (Associate) and Daniel Kälin (Junior Associate).
Alexander Wyss, who led on the deal commented, "We were very pleased to be able to assist on such a significant deal, which will further strengthen Schroder's real estate investment portfolio in continental Europe."