Niederer Kraft Frey advised Procimmo Swiss Commercial Fund II on the acquisition of portfolio properties in Kriens, Luzern, and Neftenbach, Zurich, Switzerland.
In May 2018, Procimmo Swiss Commercial Fund II acquired the property in Kriens with a rentable area of 7,146 m2, a plot area of 6,837 m2 and a market value of around CHF 10.1 million. The building will be used as a commercial property with partial retail space.
In August 2018, the fund acquired another property in Neftenbach with a market value of around CHF 17.7m and a rentable area of 10,650 m2. This property on a plot of 32,044 m2 mainly comprises commercial and industrial space, but also has office and many parking spaces.
In both transactions the NKF team was led by Real Estate partner Andreas F. Vögeli working with counsel Christina Rinne, Tax, associates Oliver Zbinden and Grégory Pauli, both Real Estate.