Baker McKenzie advises Arab Bank on its acquisition of MixCity
Baker McKenzie advised 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.
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.
The MixCity building will offer a total of approximately 12,500 square meters of modular and flexible space is available for rent. This space will be let to companies active in logistics and production, as well as to shops, catering establishments and service companies.
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).
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.
Baker McKenzie Switzerland advised its client on all legal aspects related to this acquisition in Switzerland. The team was led by partner Charles Gschwind (real estate, pictured) and consisted 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).
