Baker McKenzie advised Galenica Group ("Galenica") on the sale and leaseback of the property at its headquarters in Berne to a Credit Suisse Asset Management real estate fund for around CHF 40 million.
Galenica has been headquartered in Bern since 1967. As the 54-year-old building no longer meets today's building and usage requirements, a renovation has become necessary. Since real estate and its management are not a core competence of Galenica, the company has decided to sell and lease-back the property. The new owner, a real estate fund of Credit Suisse Asset Management, will completely renovate the building from 2024 and modernize it to new-build standards.
Galenica is committed to the Bern site and will retain its headquarters at the current location as a long-term tenant. The employees working at the headquarters will be able to remain in the building throughout the construction phase.
Galenica is a leading fully integrated healthcare provider in Switzerland. With over 500 own, joint venture and independent partner pharmacies, Galenica operates the largest network of pharmacies in Switzerland. In addition, Galenica develops and offers well-known own brands and products, exclusive brands and products from business partners as well as a variety of on-site health services and tests for customers. Galenica is also a leading provider of both pre-wholesale and wholesale distribution services and database services in the Swiss healthcare market. Galenica is listed on the Swiss Stock Exchange (SIX Swiss Exchange).
Baker McKenzie advised Galenica Group in all legal aspects of the sale and leaseback.The Baker McKenzie team was led by Samuel Marbacher (partner, Zurich) and Daniel Kälin (associate, Zurich) and also included Zarina Füglister (associate, Zurich) and Pascal Dorier (trainee lawyer, Zurich).