Stone Estate acquires portfolio from Credit Suisse
Stone Estate Swiss AG announces the acquisition of a real estate leasing portfolio from Credit Suisse worth CHF 235 million. This involves a total of seven commercial properties in five cantons.
According to Stone Estate Swiss AG, the portfolio was acquired by Credit Suisse on behalf of an unnamed private investor. It consists of seven fully let commercial properties in five cantons with a total lettable area of approximately 71,600 sqm.
The buildings used as regional headquarters of companies would be located in the cantons of Aargau, Geneva, Neuchâtel, Ticino and Vaud; the average age of the buildings is given as nine years.
According to media reports, Credit Suisse had acquired the buildings for corporate clients and then leased them to the companies for their use. However, the big bank had withdrawn from the business years ago and most recently managed the real estate portfolio in its wind-down unit Asset Resolution Unit, reports Finews. (bw)
