The global property fund of German fund manager KanAm has confirmed it has bought the Opernturm Tower in Frankfurt, Germany.

As revealed in Property Week today KanAm said it had agreed to buy the ‘high calibre European trophy real estate asset’ Tishman Speyer and UBS Real Estate Finance.

The price has not been revealed but it is thought to have paid more than €400m (3315m) for the 672,750 sq ft scheme near Frankfurt’s Opera House.

The building was designed by Chritoph Mackler and is due to complete in 2010. The build is let to UBS and law firm Morgan Lewis.

Atisreal Deutschland advised the seller.

Hauck Rechtsanwälte advised the buyer.