New Investor at Fraport's Monchhof Real Estate Area Near Frankfurt Airport

FRANKFURT, November 5, 2010 /PRNewswire-FirstCall/ -- Fraport AG's Monchhof real estate development area west of Frankfurt Airport (FRA) has attracted another renowned investor, AXA Investment Managers Deutschland GmbH (AXA IM). A leading asset management company, AXA IM has acquired ownership of the building used by the U.S.-based logistics company Expeditors International GmbH. Completed in September 2009, this building serves as the German headquarters of Expeditors and employs approximately 90 people who are primarily involved in handling air cargo and distributing merchandise. The facility features 4,250 square meters for warehousing and 2,850 square meters of office space. Expeditors' successful business activity at Monchhof is unaffected by the change of ownership of the building.

The Expeditors real estate property was developed and constructed under a joint venture by MP Holding GmbH, a project development company operating throughout Germany, and Fraport Immobilienservice und - entwicklungs GmbH Co. KG (Fraport Immo). MP Holding is currently developing other real estate projects at Monchhof such as the "multi-park" complex, which is being built in several phases and will offer about 30,000 square meters of space in total. Fraport Immo - a wholly-owned real estate subsidiary of Fraport AG - is responsible for marketing two new major real estate development areas near FRA: Monchhof logistics park and Gateway Gardens business park.

The joint-venture partners placed a high priority on sustainability and energy efficiency when constructing the new Expeditors facility. Legal requirements for energy efficiency were exceeded by more than thirty percent. As a result, Expeditors is enjoying an ongoing reduction in operating costs. The Expeditors office and warehouse complex was awarded "GreenBuilding Partner" status by the EU Commission.

The German head office of Expeditors benefits from Monchhof's excellent location near FRA and its optimal transportation links. Comprising a total area of 110 hectares and 725,000 square meters of net building land, Monchhof is the single largest industrial site in the Frankfurt/Rhine-Main region. The Monchhof utilization concept focuses on logistics, offices, and small lots for service and trading companies. Since its launch in 2007, Monchhof has taken off quickly and the marketing of all developments sites is expected to be end by 2018. Current forecasts indicate that Monchhof will employ up to 6,500 people when it is completed.

AXA IM's investment underscores the attractiveness of the Monchhof development lands. "As an internationally active investor, we appreciate the locational advantages and growth opportunities offered by Monchhof because of its proximity to Frankfurt Airport - one of the leading international hubs in global aviation. We are pleased to be investing at this dynamic and future-oriented location," emphasized Christoph Molleken, member of AXA IM's management team.

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    For Further Information, Please Contact:

    Fraport AG Frankfurt Airport Services Worldwide
    Robert A. Payne, B.A.A. - Senior Mgr. International Press & PR
    International Spokesman, Press Office (Dept. UKM-PS),
    Corporate Communications, 60547 Frankfurt am Main, Germany
    Tel.: +49-69-690-78547; E-mail: [email protected];
    mailto:[email protected]; Internet: http://www.fraport.com

SOURCE Fraport AG