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Zurich, 14 January 2021 / Deka Immobilien has obtained a purchase contract for an office building in Geneva as part of a sale and leaseback transaction with the private bank Pictet & Cie Sa. The acquisition is being made by a joint venture of the two open-ended property funds WestInvest InterSelect and Deka-ImmobilienEuropa.
The object of purchase is the property Route des Acacias 60 in Geneva; the building was constructed in 2006 as the headquarters for the Pictet Group and will continue to be used by the Pictet Group in the future on a long-term basis.
A team of CMS Switzerland led by partner Sibylle Schnyder provided comprehensive legal advice to the buyer on the transaction.
CMS Switzerland
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