Swiss insurance group Zurich has reportedly acquired the East mixed-use complex in Frankfurt's Ostend district from developer the Carlyle Group.
The deal, which was first reported by German newspaper Immobilien Zeitung, comprises a total of 52,000 m2 of residential, hotel, office and retail space over a total of four buildings.
It includes 117 apartments, 1,300 m2 of offices, 5,100 m2 of retail space as well as a Rewe supermarket and a new four-star hotel with 168 rooms, operated by Spanish group Meliá.
The Carlyle Group is believed to have invested over €100 mln in the development of the complex, situated opposite the European Central Bank (ECB).
Financial details were not disclosed.
Zurich and Carlyle were not directly available for comment.
