Investment firm Quinlan Private has agreed a €30m deal to acquire a 50% stake in a new office and hotel complex in Frankfurt.
The joint venture deal was agreed with the German group FOM Real Estate.
The €60m property is located in Bleichstrasse in Frankfurt city centre.
'We believe the asset represents a good opportunity to acquire well-located office space in the recovering Frankfurt office market,' said Quinlan Private partner Thomas Dowd.
Earlier this month, Quinlan Private founder, Irish financier Derek Quinlan, made a personal investment of over €700m to acquire half of a 42-storey Citigroup building in London's docklands.
Meanwhile, CMC Capital, has announced it has purchased the headquarters of the international domestic appliance group AEG-Electrolux in a €60m investment.
The property, which is located in Nurnberg, Germany was purchased in the form of a sale and lease back arrangement on behalf of CMC Capital's property syndicate investors.
