for PSP: purchase of Rothschild properties
PSP Swiss Property Ltd acquires a real estate portfolio with buildings in Western Switzerland and Ticino from Edmond de Rothschild (Suisse) S.A. for CHF 190 million.
As of February 1, 2018, nine prestigious Rothschild office properties will become the property of PSP, the listed real estate company announces. Five properties are located in Geneva's banking district, two in Lugano and one each in Lausanne and Fribourg. Edmond de Rothschild S.A. remains the sole or main tenant of all properties.
The Rothschild real estate portfolio has a leasable area of 15,400 sqm. According to PSP, all properties are "very centrally located and in excellent condition". Strategically, this acquisition fits perfectly into the existing property portfolio and in particular strengthens the company's own position in Western Switzerland, the company says.
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