Central Real Estate Basel AG acquires parts of “Klybeck”, one of Switzerland’s largest development sites

Niederer Kraft Frey advised Central Real Estate Basel AG on the acquisition of 160,000 sqm within the Klybeck site in Basel. Central Real Estate Basel AG is supported by a consortium of institutional investors led by Nova Property Fund Management AG, Mettler2Invest AG and Credit Suisse Asset Management (Switzerland) AG.

With a total area of around 300,000 sqm, the Klybeck site is one of the largest development areas in Switzerland. In 2016, landowners BASF and Novartis joined forces with the canton of Basel city to jointly develop the site under the project name “klybeckplus”, turning the former industrial area into a new Basel city district.

Mettler2Invest is one of the leading independent project development companies specialising in the development, implementation and financing of medium-sized to complex real estate projects. Nova Property Fund Management operates in the establishment, management and administration of collective investment schemes under Swiss law and the distribution of self-managed funds. In addition, it is active in the field of investment advice for real estate investment companies and investment foundations with a focus on real estate. Credit Suisse Asset Management will be responsible for the coordination of the site management of the project “klybeckplus”. As one of the largest Real Estate Investments providers in Europe, Credit Suisse Asset Management is invested in more than 1300 properties worldwide.

Due to the size, complexity and number of project participants involved, this is another landmark transaction in the real estate and infrastructure sector that NKF advised on. The transaction was also supported by Froriep who was responsible for regulatory aspects and corporate matters.

The NKF team was led by Real Estate partner Andreas F. Vögeli, working with Banking, Finance & Regulatory partner Ulysses von Salis, associates Oliver Zbinden and Anne Huber, both Real Estate, as well as several junior associates.