Quinlan Private, the investment fund controlled by financier Derek Quinlan, has acquired a 50 per cent stake in an €60 million office and hotel complex in Frankfurt.
Quinlan Private will partner German real estate firm FOM in the development which is located at Bleichstrasse in the city centre.
The property's office space comprises 7,286 square metres, of which over 40 per cent is leased.
Quinlan Private's Thomas Dowd said: "We believe the asset represents a good opportunity to acquire well located office space in the recovering Frankfurt office market. As the property is increasingly let, it will return a very attractive yield for our investor group."
Earlier this month Mr Quinlan invested more than €700 million to acquire half of a 42-storey Citigroup building in London's docklands.