Credit Suisse Strikes Record $1B Deal For Zurich HQ

Law360, New York (November 29, 2012, 4:07 PM EST) -- Credit Suisse Group AG on Thursday closed the largest single-property real estate deal in Swiss history, unloading its flagship offices in Zurich to a Norwegian government investment fund for 1 billion Swiss francs ($1.08 billion).

The investment bank will continue to lease the office complex, known as Uetlihof, from the new owner — Norges Bank Investment Management, the branch of Norway's central bank that manages the kingdom's pension fund — under a 25-year contract, according to a statement from Baker & McKenzie LLP, which advised Credit...
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