The amendments of the three real estate funds in view of the transformation as well as the transformation of the three contractual funds into subfunds of Procimmo Real Estate SICAV were approved by FINMA. The transformation will take place on January 8, 2025. After the transformation, Procimmo Real Estate SICAV will have four subfunds, including listed and non-listed subfunds.

Schellenberg Wittmer advised on all regulatory, tax and real estate aspects obtaining all FINMA approvals, tax rulings and rulings of the land registries.

The team was led by Caroline Clemetson (Partner Banking & Finance, Investment Management) and included Dany Sousa Ribeiro and Pauline Zoller (both, Banking & Finance, Investment Management) as well as Gregory Strohmeier (Real Estate). The tax team was led by Jean-Frédéric Maraia (Partner, Tax) and included Andrea Baratta (Tax).