UBS has initiated the sale of 19 commercial properties, primarily linked to the recently acquired Credit Suisse. This transaction, known as "Project Horizon," is one of the largest real estate deals in recent years in Switzerland.
The sale is being managed by UBS Real Estate Advisory, and interested buyers must sign a confidentiality agreement to participate in the bidding process. The properties on offer include 18 previously owned by Credit Suisse and one owned by UBS. The sale is expected to be completed by spring 2025, and interested parties must submit a non-binding offer by October 17.
The properties are being offered individually, as a complete portfolio, or in sub-portfolios. This sale reflects the seismic shifts occurring within the Swiss banking sector and the consolidation of assets by UBS. It also signifies a broader trend of restructuring and realignment within the banking sector.
The sale has generated significant interest among real estate investors and financial analysts, and the outcome could have significant ramifications for UBS and the Swiss banking sector.