GSK Stockmann advised the long-established family-owned company Diringer & Scheidel on the sale via a forward deal of the former Kaufhof building in Square N 7 in Mannheim.

 Diringer & Scheidel is developing a property opposite the Kapuzinerplanken in Square N 7 in Mannheim that combines urban living and working.
The aim of the Mannheim-based project developer is to transform the former Kaufhof building into a mixed-use property under the name “New7” that will set new benchmarks from both an ecological and design perspective.

The New7 property has been sold to an institutional investor from Germany as part of a forward deal. Completion is scheduled for 2025.

The use concept envisages a “mixed-use” property; the majority of the building will be dedicated to residential space, with other areas available for offices and medical practices. Retail space will be created on the ground floor. The centrepiece of the development will be the innovative timber hybrid construction. Combining wood with other materials will significantly reduce the building’s carbon footprint. As the wooden building modules are prefabricated, the construction time is also shorter than usual. Green areas on the roof, façade and inner courtyard will create a green oasis in the middle of the city that will improve the microclimate in the building and have a positive effect on the city’s climate as a whole.

A GSK Stockmann team led by Martin Prothmann advised Diringer & Scheidel on the sale of the property to an institutional investor.

Advisers of the Diringer & Scheidel Group:

GSK Stockmann: Martin Prothmann (lead, Real Estate Transactions & Investments), Uwe Jäger (Real Estate Transactions & Investments, Corporate), Pascal Franke (Real Estate Transactions & Investments), Petra Eckl (Tax), Marc Nostitz (Tax), Dominik Berka (Tax), Martin Hossenfelder (IP/IT), Kerstin von Staa (Real Estate Projects)