Baker McKenzie advised Swisscanto (CH) Real Estate Fund Responsible Swiss Commercial ("Fund") on the sale of the property "Werkplatz Altenrhein" in Altenrhein near St. Gallen, one of the largest properties in the Fund's portfolio with a market value of CHF 71 million as of 30 June 2021. 

"Werkplatz Altenrhein" is an industrial and commercial site with 25 buildings stretching over 62.700 m2, which are mostly used for production purposes and as workshops, offices and warehouses. For many years, the main tenant on the site has been Stadler Rheintal AG, a major Swiss railway manufacturer.

Swisscanto (CH) Real Estate Fund Responsible Swiss Commercial was launched in 2010 and invests in commercial and mixed-use properties in all market regions across Switzerland. The Fund is part of the Swisscanto Invest brand by Zürcher Kantonalbank, one of the largest fund providers in Switzerland. 

The Fund's intention is to reinvest the entire proceeds of the sale near-term in several properties to help broaden the diversification of the portfolio, which will sustainably strengthen the long-term earnings stability of the Fund. 

Baker McKenzie Switzerland advised the Fund on all legal and tax aspects of this sale. 

The Baker McKenzie team was led by Samuel Marbacher (partner, Zurich) and Charles Gschwind (partner, Geneva/Zurich) and included Susanne Liebel-Kotz (tax associate, Zurich), Bettina Klein (associate, Zurich), Anna Bachmann, René Kühn and Anna Zellweger (all trainee lawyers, Zurich).

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