Credit Suisse acquisitions - March 2021 - Stone Estate Swiss

Stone Estate acquires Credit Suisse’s CHF 235 million Real Estate leasing portfolio

  • The value-add specialist acquired the economic interest on behalf of a private investor
  • Backed by seven properties with total lettable area of ca. 71,600 sqm across five cantons
  • Acquisition follows Stone Estate’s recent sale of ca. 12,000 sqm commercial property asset in Lausanne

Zurich, Switzerland, 8 March 2021: Stone Estate.Swiss AG (“Stone Estate”), a Real Estate value-add specialist, has acquired the economic interest in Credit Suisse’s ca. CHF 235 million[1] leasing portfolio on behalf of a private investor.

The portfolio is secured by seven commercial properties with a total lettable area of ca. 71,600 sqm, all fully let regional headquarter assets. Located in the cantons of Aargau, Geneva, Neuchatel, Ticino and Vaud, they have an average building age of just nine years.

The acquisition was capitalized applying a highly structured debt financing, replicating the structure of the seven underlying leasing agreements. The bespoke structure of the transaction ensures that the buyer benefits from lessor-equivalent rights.

This transaction is the latest in a string of successful deals for Stone Estate, which focuses on commercial value-add and opportunistic Real Estate investments in Switzerland. At the end of 2020, it sold a ca. 12,000 sqm commercial property asset in Bussigny, close to Lausanne, to a Swiss institutional investment manager.

Fabian Godbersen - Stone Estate

This deal presented us with a unique set of challenges and complexities. However, with the help of all the parties involved, we were able to transform such challenges into an exceptional set of opportunities with a high-quality portfolio. This deal is of strategic importance to Stone Estate, and we look forward to expanding our mark on the Swiss Real Estate landscape as a leading value-add specialist.

Fabian Godbersen, CEO/CIO
[1] Market value as at February 2021

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