AXA Investment Managers Deutschland (AXA IM), the German arm of the global asset manager, is moving its headquarters to a 7,000sqm office and warehouse complex in Frankfurt Airport's Mönchhof real estate development.

AXA IM acquired ownership of the building currently used by US logistics company Expeditors International whose operations are unaffected by the change.

"As an internationally active investor, we appreciate the locational advantage and growth opportunities offered by Mönchhof because of its proximity to Frankfurt Airport - one of the leading international hubs in global aviation," said Christoph Mölleke, a member of AXA IM's management team.

Comprising a total area of 11 hectares and 725,000sqm of office and building space, the Mönchhof site is the jewel in the crown of Fraport's Airport City development and is focused on logistics, offices and trading lots.

Since its launch in 2007 the site has proved popular is expected to be completely leased by 2018.

The announcement follows news that Fraport has expanded its shares in the neighbouring Gateway Gardens development from 25% to 33.33% in October.

In its latest Group Interim Report, published this week, Fraport said it expects retail and real estate segment to increase in revenue and EBITDA in the coming years.

By Oliver Clark