PSP Swiss Property purchased three directly adjacent commercial buildings in the CBD of Geneva for CHF 295 million (plus transation costs). The three properties at Rue de la Confédération 2 (8,100 m2 rental space), Rue de la Corraterie 5/7 (5,400 m2) and Rue de la Cité 6 (2,100 m2) were acquired as of 22 September 2020. The commercial buildings are located in a very well frequented location between the banking district, the historic city center and the prestigious Rue du Rhône. The main tenant remains the seller UBS, which will lease back the branch office and the spaces required for its business operations.

Bär & Karrer acted as legal advisor to PSP Swiss Property in this transaction. The team included Corrado Rampini, Arnaud Philippe and Tatiana Ayranova (all Real Estate).