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GSK advises Diringer & Scheidel on the sale of 181 apartments in Ludwigshafen

GSK Stockmann has advised the Diringer & Scheidel Group on the sale of the large “LUV” project, located on the Ludwigshafen banks of the Rhine to Munich-based Dawonia (formerly Gemeinnützige Bayerische Wohnungsgesellschaft, GWB) by way of a forward asset deal.

The new LUV building is located on the southern bank of the Rhine in Ludwigshafen. As developer and owner, Diringer & Scheidel is building a total of 11 buildings with 181 rental apartments offering a total living space of approx. 6,000 m2, five business units and 266 underground parking spaces as well as 362 parking spaces for bicycles. The residential and commercial building complex on the 7,724 m2 plot is to be completed by 2021.

The parties agreed not to disclose the purchase price.

GSK Stockmann provided comprehensive legal advice on the sale of the new LUV neighbourhood and negotiated the purchase agreement.

Advisers of Diringer & Scheidel:
GSK Stockmann: Dr Uwe Jäger (lead, Real Estate), Dominik Berka (Tax); Associate: Dr Andreas Grammling (Real Estate)