UBS Switzerland has participated as well as other Banks together with Nova Property Fund Management on the refinancing and further supporting development of the Klybeckareal Project in Basel city.
UBS has acted as mandated lead arranger, bookrunner, agent, security agent and lender as well as the other banks that acted as lenders. They entered into a Swiss law governed mortgage-backed credit facility agreement for Rhystadt for purposes of (re)financing the mortgage financing of the Klybeckareal Project.
Rhystadt is a Central Real Estate Group and pursues a shared strategy: investment in forward-looking, innovative real estate projects in prime urban locations with the aim of sustainable development of liveable urban spaces. The company is supported by a consortium of experienced real estate and investment specialists comprising Nova Property Fund Management, Mettler2Invest and Credit Suisse Asset Management Switzerland. In this line, the focus of Rhystadt is the 160,000 m2 development site in the Klybeck district, located in Basel. Rhystadt has acquired the hitherto publicly inaccessible industrial site from Novartis Pharma in 2019 and it intends to open up the property from all sides and transform it into an attractive new city quarter as part of the larger klybeckplus project.
Walder Wyss acted as legal advisor to UBS Switzerland. The team included partner Lukas Wyss (banking finance, pictured), Valentin Wiesner (managing associate, banking finance), Guenda Enea (trainee, banking finance), Maurus Winzap (partner, tax) and Urs P. Gnos (partner, corporate / m&a).
MLL Legal has accompanied Rhystadt in the completion of the mortgage-backed facility agreement.The MLL Legal team consisted of partner Catrina Luchsinger Gaehwiler (banking & finance) and Xenia Pisarewski (associate, banking & finance).