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London-based investment manager MARK’s urban logistics platform Crossbay has raised €550 million ($666 million) in equity commitments from a global mix of major investors.
The platform is targeting up to €1.5 billion ($1.8 billion) in gross asset value and will focus on single-tenant assets near gateway cities. The capital raise will help fund Crossbay’s continued growth and expansion, with a focus on assets in key geographies such as France, Germany and the Benelux region.
The investor base included five major groups, including anchor investor The Townsend Group, on behalf of its Special Situations mandates; CBRE Global Investment Partners, on behalf of a Special Situations strategy; Nuveen; Credit Suisse Asset Management; and QInvest.
Crossbay was launched in May by private equity real estate investment manager MARK — formerly Meyer Bergman — to give institutional investors more exposure to the last-mile logistics sector. Crossbay is the latest pla
