Steiner AG becomes first Swiss contractor to launch an investment vehicle: Steiner Investment Foundation
Leading global law firm Baker McKenzie has advised Steiner AG, a leading Swiss real estate developer and total contractor, on the set up of a regulated investment foundation with the name Steiner Investment Foundation. Steiner AG is the first Swiss contractor to launch such an investment vehicle.
Steiner Investment Foundation is open to tax-exempt Swiss pension schemes. It is supervised by the Swiss pension supervisory authority Oberaufsichtskommission Berufliche Vorsorge OAK BV. It's first investment scheme, Swiss Development Residential, will focus exclusively on Swiss residential real estate projects. Investors will gain access to a forward-looking and pioneering investment opportunity, offering an attractive yield. The projects are sourced from the development pipeline of Steiner AG.
Steiner is one of the leading project developers in Switzerland. Founded in 1915, the company has built over 1,200 residential properties, 540 business premises, 45 hotels and 150 infrastructure facilities, including universities, schools, hospitals, prisons and retirement homes.
The Baker McKenzie team advising Steiner AG included Alexander Wyss (Partner / Real Estate) and Yves Mauchle (Associate / Capital Markets).
Alexander Wyss from Baker McKenzie said,
We were delighted to assist Steiner AG on this set up, which will provide asset management of innovative investment solutions exclusively for Swiss occupational pension schemes in the years to come.