Leading global law firm Baker McKenzie advised Swiss luxury real estate owner Ultima Capital SA on its acquisition of “The Chesery” in Gstaad, Switzerland.
Ultima says that this acquisition is a strategic investment that strengthens its portfolio: it is one of the few private chalets directly located on Gstaad’s picturesque pedestrian promenade, and one of the most sought after and exclusive locations in the famous Swiss ski resort. The property fits perfectly with Ultima’s strategy of owning rare and exceptional assets in prime locations.
Ultima, listed at BX Swiss, holds and develops a portfolio of 42 hotels, residences, chalets, villas and plots across 15 properties. The business activity of Ultima Group includes the long-term direct or indirect holding of luxury properties, located in renowned ski resorts in Switzerland (Gstaad, Schönried, Crans-Montana), in France (Cannes, Courchevel, Megève) while the other properties are located in the Geneva City area and in Greece (Corfu).
“The Chesery” will now benefit from a significant renovation and redesign to restore the chalet, while keeping its authenticity, and to meet the exceptional and ultra-luxurious standards of the Ultima brand.
A range of expert lawyers from Baker McKenzie’s Zurich office advised Ultima Capital, with a team including Alexander Wyss (Partner, Transactions/Real Estate), Petra Hanselmann (Partner, Transactions/M&A), Patricia Reichmuth (Associate, Transactions/M&A), Susanne Liebel-Kotz (Senior Associate, Tax), Bettina Klein (Associate, Transactions/Real Estate) and Yves Mauchle (Senior Associate, Capital Markets).