MLL Legal advises Procimmo on Siemens Zurich site acquisition

MLL Legal advised the Industrial sub-fund of Procimmo Real Estate on the acquisition of a 30,500 sqm industrial and office site in Zurich from Siemens. The deal also establishes a partnership for the development and construction of the new Siemens Switzerland headquarters, which is planned for completion in mid-2031.

Deal structure

The transaction is structured as a partial sale-and-leaseback combined with a project development. The new building will be constructed on the site of the existing parking area.

Advisers

The MLL Legal real estate team was led by partner Wolfgang Müller (pictured) and senior associate Munier Serag.