Baker McKenzie Switzerland advised Arab Bank Switzerland Ltd. ("Arab Bank Switzerland") on its acquisition of the Quarz'Up project, a first-class, multifunctional commercial development project in Vernier near Geneva in a share deal. The Quarz'Up project will be carried out in close collaboration with several local partners, most notably the City of Vernier as ground lessor, Losinger Marazzi SA as constructor and Concordo S.A. as developer. It marks the bank's second real estate club deal investment in Switzerland.
The Quarz'Up project will comprise approximately 23,000 square meters of usable space in a total of four buildings. The construction works are scheduled to start later this month and the first building to be delivered in the first quarter of 2025.
The Quarz'Up buildings' construction and future operation will comply with very high environmental standards and be Minergie and WELL Community-certified.
Baker McKenzie Switzerland advised its client on all legal and certain tax aspects related to this acquisition in Switzerland.
Led by Real Estate Partner Charles Gschwind, the Baker McKenzie team consisted namely of:
- Geneva office: Jingjin Guo (partner, M&A), Kim Jean Dachtler (associate, real estate), Diana Bellido Gomes (associate, M&A), Manoé Ruchat (associate, M&A), Caroline dos Santos (associate, litigation) and Valerie Bodevin (trainee lawyer)
- Zurich office: Susanne Liebel-Kotz (partner, tax), Nicolas Eckert (associate, M&A) and Gwendolyn Lins (trainee lawyer)