Industria acquires mixed-use building in Mannheim

German real estate company Industria has purchased the Carl Living residential and commercial building in Mannheim from alstria.

Carl Living, Mannheim - Industria

The acquisition, fully funded by equity, adds a modern, energy-efficient property to Industria's portfolio.

Completed in 2024 to KfW-55 energy efficiency standards, the building offers approximately 5,600 m2 of total rentable space. This includes about 4,500 m2 of residential space, divided into 65 fully occupied, privately financed apartments ranging from one to four rooms. The remaining 1,100 m2 of commercial and ancillary space are leased to a café and a physiotherapy/rehabilitation centre.

This acquisition expands Industria's open-ended real estate special fund, "Wohnen Deutschland VII" (Residential Germany VII), bringing its total assets to an estimated €573 mln.

The Carl Living building is part of a redeveloped site that once housed the headquarters of industrial group Bilfinger Berger. alstria revitalised the existing 1950s building complex and added the new "Carl Living" property.

Located in Mannheim's desirable Schwetzingerstadt/Oststadt district, the area is known for its green spaces, urban villas, and convenient access to the city centre and main train station.

Thomas Wirtz, managing director of Industria, commented: “With the acquisition of Carl Living, our ‘Residential Germany VII’ fund is now fully invested. At the same time, we are ready to launch the successor fund, ‘Industria Residential Germany VIII.’ With this vehicle, we aim to provide investors with attractive entry points into the still-robust residential sector.”

Hanns-Martin Scherer, senior transaction manager of the alstria Group, said: “We are delighted with the successful sale of ‘Carl Living’ and the consistently constructive and professional transaction process.”

Arnaud Ahlborn, managing director of Industria, added: “Carl Living impresses with its high-quality construction and architecture, as well as its excellent micro-location. The property thus ideally matches our investment profile and represents a stable addition to the fund's portfolio.”

Colliers brokered the sale on behalf of the seller. The buyer was advised by Zenk Rechtsanwälte and Case Real Estate, while trûon Rechtsanwälte advised the seller.