11 December 2012

Acquisition of the Uetlihof Office Complex from Credit Suisse AG for CHF 1 billion


Walder Wyss assisted the buyer in relation to the acquisition of this landmark real estate property in Zurich from Credit Suisse AG in a sale-lease-back transaction through the buyer’s Luxembourg platform. Credit Suisse AG will lease the property for 25 years and has the option to extend the lease by as many as 15 years. Uetlihof, located about 3 kilometres southwest of Zurich’s city centre, is Credit Suisse’s main office building worldwide. Credit Suisse AG will have operational responsibility for Uetlihof during the fixed lease period. The office complex has more than 8,000 workspaces, as well as a precious metal vault and data centre. It consists of 173,807 square metres of lettable space. This acquisition is one of the largest single real estate asset acquisitions ever made in Switzerland.

Walder Wyss advised the buyer on all aspects of the transaction including overall legal and tax structuring, legal due diligence, documentation and VAT.

The Walder Wyss team was led by Johannes A. Bürgi (Partner, Real Estate & Finance) and included Thomas Müller-Tschumi (Partner, Real Estate), Thomas Meister (Partner, Tax), Jan Ole Luuk (Counsel, Tax), Elisabeth Moskric (Counsel, Real Estate), Gisela Oliver (Associate, Real Estate), David Borer (Associate, Real Estate) and Peter Hongler (Associate, Tax).

News

News

11 December 2012

Acquisition of the Uetlihof Office Complex from Credit Suisse AG for CHF 1 billion

Walder Wyss assisted the buyer in relation to the acquisition of this landmark real estate property in Zurich from Credit Suisse AG in a sale-lease-back transaction through the buyer’s Luxembourg platform. Credit Suisse AG will lease the property for 25 years and has the option to extend the lease by as many as 15 years. Uetlihof, located about 3 kilometres southwest of Zurich’s city centre, is Credit Suisse’s main office building worldwide. Credit Suisse AG will have operational responsibility for Uetlihof during the fixed lease period. The office complex has more than 8,000 workspaces, as well as a precious metal vault and data centre. It consists of 173,807 square metres of lettable space. This acquisition is one of the largest single real estate asset acquisitions ever made in Switzerland.

Walder Wyss advised the buyer on all aspects of the transaction including overall legal and tax structuring, legal due diligence, documentation and VAT.

The Walder Wyss team was led by Johannes A. Bürgi (Partner, Real Estate & Finance) and included Thomas Müller-Tschumi (Partner, Real Estate), Thomas Meister (Partner, Tax), Jan Ole Luuk (Counsel, Tax), Elisabeth Moskric (Counsel, Real Estate), Gisela Oliver (Associate, Real Estate), David Borer (Associate, Real Estate) and Peter Hongler (Associate, Tax).