Pictet successfully sold its iconic global headquarter building in the Acacias district of Geneva to Deka Immobilien in a sale and lease back transaction for a record consideration. The transaction was signed in December 2020 and closed on 1 March 2021 following the completion of the regulatory process by local authorities. Baker McKenzie advised Pictet on all legal and tax aspects of the transaction.

This strategic deal is one of  the largest ever private single-asset real estate transactions in French-speaking Switzerland and is closely linked to Pictet's planned expansion of its headquarter footprint with the nearby construction of the "Campus Pictet de Rochemont" building scheduled for 2025.

Samuel Marbacher, co-head of the Baker McKenzie Switzerland real estate team adds: "It was a pleasure and also an honour to team up with Pictet's excellent in-house team during the last few months to bring this complex project to a successful end. We would like to thank the entire Pictet team for the excellent collaboration and to congratulate them on successfully closing this strategic transaction."

The Pictet Group is a privately held Swiss multinational financial services firm.  It offers wealth management, asset management, asset servicing and alternative investments  to private clients and institutions.

The Pictet Group employs around 4,900 staff. It has a network of 30 offices in financial services centres globally.

The Baker McKenzie team was led by Samuel Marbacher (Partner, Zurich) and Martin Furrer (Partner, Zurich) and included Charles Gschwind (Senior Associate, Zurich/Geneva), Olivier Ducrey (Partner, Geneva), Basil Kirby (Associate, Zurich), Ramon Tissafi (Associate, Zurich), Susanne Liebel-Kotz (Associate, Zurich), Nathan Bouvier (Associate, Zurich/Geneva), Pascal Dorier (Trainee Lawyer, Zurich), René Kühn (Trainee Lawyer, Zurich), Vilma Faivre (Trainee Lawyer, Geneva) and Amal Ali (Trainee Lawyer, Geneva).

The structuring and brokerage of this transaction was managed by JLL with a broad team led by Lars Frölich, Andrea Fuhrer and Jan Eckert.

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