MARK is expanding its urban logis­tics platform Crossbay with a second investment  vehicle  targeting  more than €2 billion in gross asset value (GAV).

Crossbay II will acquire existing single-user last-mile facilities in major European gateway cities, focusing on assets in urban infill locations where rental growth is expected to be strongest. It will also see MARK enter new geographies such as Denmark, Sweden and the United Kingdom. Initial acquisitions will be funded through a €250 million Pan-European debt facility from global investment bank Citi, which had previously provided €400 mil­lion in debt financing for the first Crossbay vehicle.

Elsewhere, BNP Paribas REIM and a number of German institutional investors have contributed €200 million to the latest closing of the Catella Euro­pean Residential III (CER III) fund, bringing the total capital raised to more than €1.2 billion. CER III is one of Europe's largest cross-border residen­tial investm