Mannheim: Tom Bock sells parts of quarter project for six times the purchase price

05/03/2019

Frankfurt-based investor Tom Bock has sold construction fields 4 and 5 on the site of the former Turley barracks in Mannheim, which the group had bought in 2015. The price for the lots totaling 1.3 ha was €36mn, six times the amount Bock paid the city’s development company MWSP for the properties four years ago. The new owners are represented by Hamburg-based developer Fortoon and the Qcoon family office. They plan to build about 250 rental apartments on field 4 — some of them subsidized. Plans for field 5 have changed from apartments to offices. Bock retains a 15 % share in the lots. The Managing Directors of Fortoon and Qcoon, Peter Zillmann and Torsten Dohmeyer, were recently in the headlines for investing in a housing project in Hamburg-Altona. This newly publicized transaction, which the “Mannheimer Morgen” newspaper reported first, has sparked heated debates in Mannheim about land speculation.


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