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 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.