We help you to identify the appropriate transaction strategy for your needs, and to define, structure and effectively execute an outcome-based transaction process.
The outcome-based identification of value drivers and professionally prepared transaction information and presentations are key to the success of a transaction. To this end, we undertake a comprehensive analysis of all asset- and/or company-specific information and use our market analyses to boost purchaser interest.
Where appropriate, we involve KPMG Tax and Legal, and/or our financial analysts in the transaction process to ensure that the transaction is optimally structured from a tax or corporate law perspective.
As lead transaction advisor, we also guide our clients’ team of experts through the transaction process.
Through our well-established network of national and international investors, we make direct and discreet approaches to potentially interested parties and support them through the due diligence process. This enables us to strive consistently towards achieving the defined transaction outcome and ensures that our proactive, expert placement of real estate assets leads to a successful conclusion of the transaction within the specified timeframe.
Possible concerns
- Are you the best owner for your real estate holding? Are you faced with a renovation cycle, or refinancing or other building issues?
- How could you optimize your financing structure through making adjustments to your real estate portfolio?
- Is a property a strategic or an operational asset for you, or are you looking to improve your locational flexibility?
- Are you planning an expansion or restructuring programme that you could finance by selling or transferring real estate?
- Do you need a lean balance sheet, perhaps for a company disposal by way of an M&A process?
- Could you raise liquidity through a sale & leaseback transaction, or secure financing to focus on your core business?
- Do you have the necessary expertise and resources to manage your portfolio and real estate efficiently? Could you optimize your processes by transferring your direct real estate investments into an investment vehicle (e.g. through an asset swap)?
- Do you have the best technology at your disposal to manage your properties, and to generate and analyze the data you need to implement your business or sustainability strategy?
- Do you have access to the market information that you need to achieve the best standards in the industry?
- Do you know the tax implications of a planned transaction? Are there optimization possibilities or is a tax-neutral restructuring possible?
- In matters of inheritance, do you know the best way to share out entitlements to real estate in a tax-efficient manner or to convert them into liquidity?
- Are you looking for the best possible way to pass a business with operational real estate to a new generation as a going concern?
- How can you be sure of achieving the best price for a transaction or finding the perfect successor?
- Would you like to place your real estate assets or portfolios discreetly but effectively on the capital markets, and do you have the network that you need to do this?
Our solutions
The acquisition or disposal of real estate assets, portfolios and/or development projects is a complex undertaking that demands an interdisciplinary approach, in order to monitor all the real estate value drivers and satisfy the needs of investors, portfolio managers, operators and users alike. A successful outcome requires effective preparation, optimal timing and a structured, result-based transaction process.
We guide you through this process: starting with an analysis of your goals and requirements, we help you structure the transaction by way of a target-oriented, tightly scheduled and effectively managed transaction process, and support you through to its successful conclusion.
We assume the role of your lead transaction advisor, combining our multidisciplinary skills such as financial analysis, tax and legal advice, or work intensively with our clients’ project teams.
Project examples
A selection of real estate transactions and company disposals from our list of references:
- Managing the disposal of a manufacturing property in central Switzerland. The transaction was concluded by way of a sale & leaseback with phased contractual elements, to guarantee locational flexibility for our international client.
- Lead transaction advice on the sale of an industrial plant in the Bern region by way of a sale & leaseback transaction. Due to an ongoing rezoning process and the need for a multi-option deal structure in both the term sheets and the dual-track process, this was a highly complex undertaking with two possible investment outcomes. This allowed both a regular bidding process and a reverse auction to optimize the outcome of the transaction for the client.
- Disposal of two former industrial sites with a combined area of around 72,500 sq. m., 45 buildings, a small hydropower plant and on-site distribution stations for the local energy supply. Alongside the industrial sites in two municipalities, the transaction included a leasehold over a plot of land developed with condominium apartments.
- Providing assistance and transaction advice on the sale of a monument-listed piece of industrial architecture. The solidly constructed buildings were already being put to a variety of alternative commercial uses; the transaction process involved optimizing conversion and redevelopment plans which had already been drawn up for the main buildings. An important contributor to the transaction’s success was the care taken to ensure that the real estate was correctly placed: an investor with a focus on sustainability was secured to shape the plant’s future, taking ESG considerations into account.
- Coordinating and executing a transaction relating to an inter-cantonal real estate portfolio consisting of four residential properties and one commercial property in German-speaking Switzerland, three predominantly residential properties in western Switzerland and nine co-ownership shares in commercial properties in five cantons.
- Managing the sale of a portfolio consisting of a commercial property in central Geneva, three residential properties in Zurich and a historic property in Basel’s old town. Optimizing the outcome of the transaction by creating sub-portfolios and individual asset sales.
- Disposal of a portfolio with two properties in Sottoceneri (TI), one commercial property in central Switzerland (LU) and one residential property in eastern Switzerland (SG). The outcome of the transaction was improved by creating sub-portfolios and selling individual assets.
- Structuring and highly confidential execution of a transaction involving the “swapping” of six residential properties as part of a complex value-alignment process for a portfolio with exclusively commercial use (direct asset swap). The properties were located in six cantons in three language regions and were sold as part of the takeover of a commercial property portfolio transaction across three cantons.
- Disposal of a landmark property in Geneva city centre in a tightly-managed closed process. In addition to the target yield, the challenge was to adhere to the highly sensitive confidentiality requirements of the banking and financial services industry tenants throughout the process.
- Managing a multi-optional transaction process in relation to a real estate portfolio comprising four commercial properties in city centres in the cantons of St. Gallen, Zug and Fribourg. The transaction was structured in such a way that either the entire portfolio, sub-portfolios or individual properties could be acquired to achieve an overall sale. Individual bids were used to optimize the price for the entire portfolio.
- Developing the functional, legal and fiscal structure of a sale & leaseback for an international school on Lake Geneva. Preparation and execution of a multi-optional transaction process based on the preferred OpCo / PropCo (share deal) structure. The challenge was to sell the school’s 25 buildings and ancillary operational facilities whilst ensuring that it could continue to operate as a going concern, and that the operator would be free and flexible to continue to invest in the renewal and expansion of the facilities on the ca. 73,000 sq. m. site.
- Taking into account leasehold and contract law requirements, the objective of the transaction was achieved by creating a leasehold over on the entire property which was spread over two municipalities and several development zones.
- The leasehold land was sold, so that the seller (as lessee) entered into a contract with the purchaser (as lessor). The result was a sale & leaseback transaction spanning a period of 80 years which provided the purchaser with a mortgage-backed triple-net lease and, at the same time, ensured the protection of the business as a going concern by the seller (strategic corporate real estate).
- Transaction management and support, structuring the complex contracts for the sale of a data centre with a partial leaseback agreement including service level agreements (SLAs) in the Zurich region.
- Sale of a portfolio of five properties and three co-ownership shares in the cantons of Bern, Zurich and Ticino. The portfolio was sold to an investment foundation by way of an asset swap. The challenge was dealing with the pre-emption rights over the co-ownership shares whilst ensuring that an overall sale was achieved.
- Transaction management for the international placement of a co-ownership share in a high-rise development in Zurich. The property was a development project comprising a 200-room hotel with congress facilities; the seller was a consortium of co-owners which created a condominium title over the jointly-owned plot and sold part of it together with the development project and a hotel operating lease.
- Managing the sale of a development project with mixed retail, office and residential use on Bern’s Europaplatz. The development extended over two plots of land with underlying planning permission belonging to the municipality of Bern which granted a permanent leasehold. Condominium titles were created over this leasehold, with four of the five condominium clusters created sold in the transaction.
- Development finance secured through the sale of the Mall of Switzerland development in central Switzerland, including associated leisure facilities.
- Lead advice on the transfer to an insurance company of a privately held real estate portfolio in Zurich following the withdrawal of the portfolio from a planned IPO, and assisting a real estate developer in the preparation of a possible IPO.
- Lead transaction advice on the sale of a portfolio of four properties with retail, office and residential use in the cities of Chur, St. Gallen, Solothurn and Geneva. Initially set up as a share deal, the transaction was concluded in the form of individual asset sales.
- Sale of a monument-listed real estate complex in the central Zurich Oberdorf consisting of six buildings with commercial and residential use. Use scenarios had to be developed due to the principal tenant moving out of the complex. Transaction certainty achieved for the seller (joint heirs).
- Sale of two unique architectural jewels in a prime city centre location in Zurich. Optimization of the exit yield by providing tax advice and highly competitive, confidential transaction management with a small number of strategically interested bidders.
