Baker McKenzie advised Arab Bank (Switzerland) Ltd. ("Arab Bank Switzerland") on its purchase of the MixCity project, a first-class, multifunctional commercial development project in Renens in the Greater Lausanne area. The investor purchased the property and respective development project via a special purpose vehicle from a third-party land seller and from developer and construction company Steiner AG. Arab Bank Switzerland has launched a major pan-European real estate investment fund that has built a notable track record for 7 years in originating, structuring and exiting deals across continental Europe, with a particular focus on Germany, The Netherlands, Luxembourg and Italy. The MixCity transaction marks the bank's first real estate club deal investment in Switzerland. 

A total of approximately 12,500 square meters of modular and flexible space is available for rent in the MixCity building. This space will be let to companies active in logistics and production, as well as to shops, catering establishments and service companies. 

The building permit was received in fall 2022. Once completed, the MixCity building will be Minergie-certified. The building's construction and future operation will comply with very high environmental standards. For example, recycled materials will be used during the construction. In addition, an urban farm will be operated on the roof, which will also host solar panels. Geothermal probes will ensure sustainable heating and, finally, a rainwater recovery system will be set up.

Founded in 1962, Arab Bank Switzerland has a recognized Swiss bank status. Arab Bank Switzerland is subject to all Swiss banking laws, rules and regulations and is supervised by the Swiss Financial Market Supervisory Authority (FINMA). It is an independent sister company of Arab Bank plc. To this end, it can rely on a wide network of branches in the Arab world and in major financial centers around the globe. As a testament to its vision to continuously offer innovative investment solutions, Arab Bank Switzerland successfully launched AB Alternative Fund SICAV-SIF in Luxembourg in early 2016, with the purpose of owning and operating both office and logistic properties across Europe. 

Founded in 1915, Steiner AG is a leading real estate service provider focusing on project development and realization. It is headquartered in Zurich and has offices in Basel, Bern, Lucerne, Tolochenaz and Geneva. With a development portfolio in excess of CHF 6 billion, Steiner is one of the largest real estate developers in Switzerland. The portfolio includes a wide range of projects in the residential, office, industrial and logistics sectors, as well as its own product innovations such as the Werkarena, MixCity, Manufakt and Steiner Hybrid Hotel brands. In French-speaking Switzerland, Steiner Construction is the market leader for the realization of real estate in the total/general contractor model. Steiner AG brings over 100 years of experience to the two newly created divisions 
Steiner Financial Initiatives for new investment solutions and Steiner Digital for digital collaboration platforms along the real estate lifecycle.

Baker McKenzie Switzerland advised its client on all legal aspects related to this acquisition in Switzerland.

Charles Gschwind (partner, Real Estate) led the Baker McKenzie team, consisting namely of Kim-Jean Dachtler (associate, Real Estate), Tatiana Ayranova (associate, Banking & Finance), Caroline dos Santos (associate, Construction/Dispute Resolution), Fabienne Bretscher (associate, Intellectual Property & Technology) and Nathan Bouvier (associate, Tax).
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