MARK Capital Management Secures €660m in Equity Commitments for Crossbay II
– MARK Capital Management has successfully closed Crossbay II, the latest vehicle in its urban logistics fund series, with €660m in total fund commitments.
– Crossbay II’s fund size represents a 20% increase compared to its predecessor vehicle.
– Including debt financing, Crossbay II has over €1.5bn in investment capacity, which will be deployed across major European markets.
– New investors include pension funds, insurance companies, sovereign wealth funds, and family offices from Europe, Asia, and the US. Returning investors include CBRE Investment Management Indirect Real Estate Strategies, the fund’s largest investor.
– The fund is on track to be over 60% committed by year-end, focusing on single-user distribution centres in urban locations in European gateway cities with supply-demand imbalances.
– Crossbay II currently manages approximately €1bn in assets, with investments in the UK, France, Benelux, Germany, Spain, and Italy.
– Crossbay I, the first urban logistics fund, secured €550m in equity and was fully realised with a successful exit in 2022.
– The fund is led by CEO Marco Riva, previously of Logicor, with sourcing and asset management executed by on-the-ground logistics experts in each market.
– Marco Riva, Crossbay CEO, stated: “The fundraise will allow us to aggregate fundamentally granular and hard-to-access assets to create a second institutional-grade portfolio. We have been tactically deploying throughout this period and are already almost 60% committed.”
– Marcus Meijer, Crossbay Chairman and MARK Capital Management CEO: “While there is a brightening macro-economic outlook and clear tailwinds behind urban logistics, we recognise uncertainty remains and so would like to thank our investors for placing their trust in us.”
– Crossbay has pivoted to sector-specific strategies, attracting a geographically diverse investor base and surpassing the size of its predecessor fund.
– Crossbay II’s fund size represents a 20% increase compared to its predecessor vehicle.
– Including debt financing, Crossbay II has over €1.5bn in investment capacity, which will be deployed across major European markets.
– New investors include pension funds, insurance companies, sovereign wealth funds, and family offices from Europe, Asia, and the US. Returning investors include CBRE Investment Management Indirect Real Estate Strategies, the fund’s largest investor.
– The fund is on track to be over 60% committed by year-end, focusing on single-user distribution centres in urban locations in European gateway cities with supply-demand imbalances.
– Crossbay II currently manages approximately €1bn in assets, with investments in the UK, France, Benelux, Germany, Spain, and Italy.
– Crossbay I, the first urban logistics fund, secured €550m in equity and was fully realised with a successful exit in 2022.
– The fund is led by CEO Marco Riva, previously of Logicor, with sourcing and asset management executed by on-the-ground logistics experts in each market.
– Marco Riva, Crossbay CEO, stated: “The fundraise will allow us to aggregate fundamentally granular and hard-to-access assets to create a second institutional-grade portfolio. We have been tactically deploying throughout this period and are already almost 60% committed.”
– Marcus Meijer, Crossbay Chairman and MARK Capital Management CEO: “While there is a brightening macro-economic outlook and clear tailwinds behind urban logistics, we recognise uncertainty remains and so would like to thank our investors for placing their trust in us.”
– Crossbay has pivoted to sector-specific strategies, attracting a geographically diverse investor base and surpassing the size of its predecessor fund.