LONDON, ENGLAND, March 04, 2025 /24-7PressRelease/ -- The award follows Crossbay II, the second fund in MARK's urban logistics strategy Crossbay, securing €660m in equity commitments in Q4 2024. The final close represented a 20% increase in fund size compared to the predecessor vehicle.
Including debt financing, Crossbay II has a total investment capacity of over €1.5bn, which will be deployed and managed by Crossbay's on-the-ground teams across the major markets in Europe.
New investors in Crossbay II included pension funds, pension insurance companies, sovereign wealth funds and family offices from across Europe, Asia and the US. Returning investors included the fund's largest investor.
According to PERE data, Crossbay II was one of the top 10 largest industrial & logistics private real estate funds to close globally, and the largest Europe-focused vehicle to achieve final close.
Including near-term pipeline, Crossbay II currently manages c.€1bn in assets, with investments in the UK, France, the Benelux region, Germany, Spain and Italy. Crossbay focuses specifically on single-user distribution warehouses in gateway cities.
Crossbay II is now over 65% committed, having acquired over 7.5 million square feet to date.
MARK Capital Management first started investing in urban logistics in 2018. Crossbay I, the manager's first dedicated urban logistics fund, secured €550m in equity commitments and is fully realised after a successful exit in 2022.
Crossbay is led by CEO Marco Riva, previously of Logicor, with sourcing and asset management capabilities executed by on-the-ground logistics experts in each of the markets in which Crossbay operates.
MARK Capital Management CEO Marcus Meijer told PERE: "It may sound cliché, but this was definitely an all-team effort. Special thanks should be given to our on-the-ground teams in our target markets. That genuine, in-country presence and ability to source off-market opportunities is so critical to the success of a granular aggregation strategy like Crossbay II. It really is what sets us apart, and we hear this all the time from our investors too.
"Crossbay's strategy is cycle-agnostic and benefits from a best-in-class, pan-European origination function and an in-house infrastructure set up specifically to execute a very granular strategy."
MARK Capital Management is an independent real estate investment and asset manager that has managed over €20bn of private real estate since the firm's founding in 2008. Serving a global client base of institutional investors, sovereign wealth funds and family offices, MARK leverages boots-on-the-ground presence in its target markets, combining local knowledge with expertise in sourcing, development, asset and portfolio management, to create and execute investment strategies that maximise value for investors while aligning with their objectives.
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