Baker McKenzie advised PSP Swiss Property ("PSP") on its acquisition of a top tier property in Geneva in a share deal.
PSP has acquired the commercial property at 3-5 Place de la Synagogue in a prime downtown location in Geneva for CHF 64 million (asset purchase price) by means of a share deal. This prestigious property has approximately 2,700 m2 of usable space, which is mainly used for offices. The property is fully let in the medium to long term, with the main tenant being the IWG-brand "Signature", a coworking operator.
This strategic transaction serves to support the ongoing portfolio optimization of PSP.
PSP owns a real estate portfolio worth CHF 9.1 billion in the most important Swiss economic centers and has a market capitalization of CHF 5.6 billion. Its 98 employees are located in Basel, Geneva, Zug and Zurich. The company has been listed on the SIX Swiss Exchange since March 2000.
Baker McKenzie Switzerland advised PSP on all legal and tax aspects of this transaction.
Martin Furrer (partner, real estate, Zurich) and Charles Gschwind (partner, real estate, Geneva/Zurich) led the Baker McKenzie team, which consisted of Alexander Wyss (partner, real estate, Zurich), Mario Kumschick (of counsel, tax, Zurich), Nathan Bouvier (associate, tax Geneva/Zurich), Diana Bellido Gomes (associate, corporate and M&A, Geneva), Kim-Jean Dachtler (associate, real estate, Geneva), Cathrin Marxer (associate, corporate and M&A, Zurich), as well as René Kühn and Raphael Schneuwly (both trainee lawyers, Zurich).
PSP has acquired the commercial property at 3-5 Place de la Synagogue in a prime downtown location in Geneva for CHF 64 million (asset purchase price) by means of a share deal. This prestigious property has approximately 2,700 m2 of usable space, which is mainly used for offices. The property is fully let in the medium to long term, with the main tenant being the IWG-brand "Signature", a coworking operator.
This strategic transaction serves to support the ongoing portfolio optimization of PSP.
PSP owns a real estate portfolio worth CHF 9.1 billion in the most important Swiss economic centers and has a market capitalization of CHF 5.6 billion. Its 98 employees are located in Basel, Geneva, Zug and Zurich. The company has been listed on the SIX Swiss Exchange since March 2000.
Baker McKenzie Switzerland advised PSP on all legal and tax aspects of this transaction.
Martin Furrer (partner, real estate, Zurich) and Charles Gschwind (partner, real estate, Geneva/Zurich) led the Baker McKenzie team, which consisted of Alexander Wyss (partner, real estate, Zurich), Mario Kumschick (of counsel, tax, Zurich), Nathan Bouvier (associate, tax Geneva/Zurich), Diana Bellido Gomes (associate, corporate and M&A, Geneva), Kim-Jean Dachtler (associate, real estate, Geneva), Cathrin Marxer (associate, corporate and M&A, Zurich), as well as René Kühn and Raphael Schneuwly (both trainee lawyers, Zurich).
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