Singaporean investor First Sponsor Group has bought the Le Meridien Frankfurt hotel for around €85m (£74m), its first acquisition in Germany.
The investment group is acquiring the property alongside its major shareholders – City Developments (CDL) and Tai Tak Estates Sendirian Berhad.
CBRE was instructed by former owners Art Invest Real Estate to sell the property earlier this year.
The hotel is leased to MHP Parkhotel and has a lease expiry date of 31 May 2040 and is operated under the Le Meridien brand under a franchise agreement with Starwood.
The freehold property is located Frankfurt’s main train station.
Earlier this year CDL Hospitality Trust bought the Pullman hotel in Munich.
It also bought the Lowry Hotel in Manchester in May for £52m.
CBRE acted for Art Invest Real Estate.
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