Deals & Cases
MLL Legal advises Procimmo on the acquisition and redevelopment of Siemens’ Zurich site
MLL Legal advised the Industrial sub-fund of Procimmo Real Estate SICAV on the acquisition of Siemens’ 30,500 sqm industrial and office site in the city of Zurich and the establishment of a strategic partnership for the development and construction of Siemens Switzerland’s new headquarters. The transaction is structured as a partial sale-and-leaseback combined with a project development for a new building on the site of the existing parking area. Completion of Siemens’ new headquarters is planned for mid-2031.
The partnership combines Procimmo’s objective of taking commercial and industrial sites into the future with Siemens’ ambition to develop the site in line with its evolving business needs and to continue its presence in Zurich, which spans more than 100 years.
The MLL Legal real estate team was led by Wolfgang Müller (Partner) and Munier Serag (Senior Associate).
MLL Legal congratulates Procimmo and all parties involved on the successful conclusion of this strategic partnership. We are pleased to have advised Procimmo on this landmark transaction, further strengthening MLL Legal’s track record in complex real estate transactions and development projects.
