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City of Zurich acquires the "Airgate" tower

26 August 2015

The city of Zurich announced the acquisition of the landmark building "Airgate" located in Zurich North for CHF 128 million from the Australian Barana Group. The "Airgate" shall be used in the mid-term as a new administrative center of the city. The building was sold in a complex closed auction process. Schellenberg Wittmer acted as sole legal counsel to the seller advising in all aspects of the transaction. The Schellenberg Wittmer team consisted of Josef Caleff (overall lead; partner, real estate), Harun Can (partner, tax), Regula Portmann (senior associate, tax) and Marcel Jakob (associate, real estate).

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