Axa Winterthur buys for 300 million in Geneva
Axa Winterthur has purchased a real estate portfolio in Geneva for just under CHF 300 million. The sellers are the private bank Lombard Odier & Cie and Compagnie Immobilière Lombard Odier.
The portfolio consists of a total of five buildings. Four are located in the center of Geneva, the fifth is in Petit-Lancy. The properties are in very good condition, Axa Winterthur says. Lombard Odier Bank remains the sole or main tenant in four properties. The fifth will be leased to third parties.
SPG Intercity advised Lombard Odier Bank on the sale. The transaction is expected to close in the first quarter of this year. With a volume of CHF 300 million, it is already expected to be one of the most significant real estate transactions of the year.
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