UBS’s Acquisition Of A Real Estate Portfolio Held By The Lugano Pension Fund


UBS and the Pension Fund of Lugano requested Pestalozzi’s advice on a portfolio transfer of direct real estate investments held by the Lugano pension fund. Shares in a regulated UBS real estate fund covered this transfer.

The tax authorities treated the transaction as a leading case and reconsidered their practice in this area.

Pestalozzi advised on all tax and legal aspects of the transaction and also negotiated with the tax authorities for smooth progress enabling the real estate asset swap to be tax neutral.

The Pestalozzi team included Nils Harbeke (Partner – Tax, in picture), Anne-C. Imhoff (Counsel – Real Estate & Environment), Michael Lips (Partner – Real Estate & Environment), Noëlle Mathis (Senior Associate – Tax) and Evelyn V. Frei (Associate – Real Estate & Environment).

Involved fees earner: Evelyn Frei – Pestalozzi; Nils Harbeke – Pestalozzi; Anne-C. Imhoff – Pestalozzi; Michael Lips – Pestalozzi; Noëlle Mathis – Pestalozzi;

Law Firms: Pestalozzi;

Clients: City of Lugano Pension Fund; UBS;