Real Estate M&A

The "Schilthof" is one of the highest ranked buildings under historic protection and a prestigious property in the centre of Basel in excellent pedestrian location. It has been part of the real estate portfolio of UBS AG over the past years, but was vacated in the course of a space consolidation by the end of 2005. In spring 2006 the specialists of UBS Real Estate M&A were commissioned to prepare the property for sale and place it with selected investors.

Since the "Schilthof" was vacant, listed as historic building and charged with a pre-emption right, the vendor due diligence focused strongly on the analysis of prevailing potentials, a new usage concept and the fact, that there was little parking available on site. Against this background conceptual studies and calculations in collaboration with external architects and letting agents were prepared. The successful and discreet disposal was carried out by means of a limited auction with selected investors who were familiar with restructuring properties. In April 2007 the purchase agreement with the "Immobilienfonds Credit Suisse 1a Immo PK" could be signed and the property transferred later on. The buyer's aim is to restructure the "Schilthof" and implement a future oriented utilization.