MARK Capital Management has held a final close for the latest vehicle in its urban logistics fund series, Crossbay.
Crossbay II has secured €660 million ($693 million) in total fund commitments, representing a 20 percent increase in fund size compared to the predecessor vehicle. Including debt financing, Crossbay II has a total investment capacity of more than €1.5 billion ($1.57 billion), which will be deployed and managed by Crossbay’s on-the-ground teams across the major markets in Europe.
New investors include pension funds, pension insurance companies, sovereign wealth funds and family offices from across Europe, Asia and the United States. Returning investors include CBRE Investment Management Indirect Real Estate Strategies, the fund’s largest investor.
The fund is on target to be more than 60 percent committed by year-end, with a specific focus on existing single-user distribution centers in urban locations within European gateway cities where su
