Leading global law firm Baker McKenzie advised Swiss Life and several European funds managed by Swiss Life on the acquisition of Glattzentrum. Effective October 1, Swiss Life will acquire the shopping center from the Federation of Migros Cooperatives (FCM), Switzerland's largest retailer.
Swiss Life intends to pursue the long-term development of the shopping center, in particular by collaborating with the management in place. FCM specifies that it will maintain “a strong presence for its customers." The parties have agreed not to disclose the purchase price.
With a turnover of around CHF 600 million and a sales area of 53,000 square meters, the Glattzentrum in Wallisellen (ZH) is one of the largest and most popular shopping centers in Switzerland. Swiss Life is convinced that the Glattzentrum is an attractive investment in the medium and long term and is acquiring Glatt shopping centre in the context of its third-party asset management.
Swiss Life is a leading provider of life and pensions and financial solutions in Europe. They have been helping private and corporate clients prepare their financial future for over 160 years and operate in Switzerland, Germany, France, Luxembourg, Liechtenstein and Singapore.
Baker McKenzie's Zurich based team was led by Alexander Wyss and consisted of Mario Kumschick, Ramon Tissafi, Bettina Klein, Basil Kirby and Fabian Greutert. The Zurich team was supported by teams from the Firm's Frankfurt and Paris offices and included Sonja Klein and Manuel Lorenz (Frankfurt) as well as Virginie Louvigne, Romain Marroux and Fabrice Varandas (Paris).