Zurich-based property firm Allreal Office said it has acquired the White Plaza office building in Basle designed by architect Richard Meier for around CHF 100 mln (EUR 65 mln). The deal reflects a yield of 5%.
Zurich-based property firm Allreal Office said it has acquired the White Plaza office building in Basle designed by architect Richard Meier for around CHF 100 mln (EUR 65 mln). The deal reflects a yield of 5%.
The 20,000 m2 building iis believed to have been bought from the administrator of an unnamed company in liquidation.
White Plaza is virtually fully let and generates an annual rental income of CHF 5.4 mln. The main tenants are Panalpina Management - on a lease until 2018 - and Tally Weijl Trading, which has a lease until 2015.
