Taurus is currently developing a first class industrial facility in a strong location near Frankfurt International Airport in Germany. The logistics park is being built in a strategic partnership with nextparx GmbH, an experienced and specialized developer with a solid track record. Once built, the facility is expected to be certified as a sustainable building by the DGNB (German Sustainable Building Council).
Taurus and nextparx are both experienced and successful developers of industrial/logistics centers in the US and Germany and started the strategic partnership in 2011 with the acquisition of a brand new 31,500 m² (335,000 sqft) logistics center in Gross-Gerau for a long term hold strategy. This initial transaction allowed the parties to get to know each-other and formed the basis for the exclusive joint venture agreement between Taurus and nextparx, to work together on all future logistic center development projects in Germany. These projects represent the start of a pipeline of attractive investments in state of the art logistics parks throughout Germany.
In H1 2013 BPN Paribas reported that the German economy is expected to remain strong in the foreseeable future, and the real estate market with regard to industrial and warehouse assets is expected to show further growth throughout Europe and especially in Germany. The importance of Frankfurt International Airport as one of the major hubs in Europe is also expected to continue to grow.