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MARK Capital Management
Tihs week, MARK Capital Management, a European real estate investment manager, said it has achieved a final close for the latest vehicle in its urban logistics fund series, Crossbay.

The vehicle – Crossbay II – has secured €660 million ($693.5 million) in total fund commitments, a 20 per cent rise in fund size compared with the predecessor vehicle. Including debt financing, Crossbay II has a total investment capacity of over €1.5 billion.

The money will be deployed and managed by Crossbay's 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 US. Returning investors include CBRE Investment Management Indirect Real Estate Strategies, the fund’s largest investor, the firm said in a statement.

The fund is on target to be over 60 per cent committed by year-end, with a specific focus on existing single-user distribution centres in urban locations within European gateway cities where supply-demand imbalances are most acute. 
 
Including a near-term pipeline, Crossbay II manages about €1 billion in assets, with investments in the UK, France, the Benelux region, Germany, Spain and Italy. 

MARK Capital Management first started investing in urban logistics in 2018. Crossbay I, the manager’s first dedicated urban logistics fund, secured €550 million in equity commitments and is fully realised after a successful exit in 2022. Crossbay is led by CEO Marco Riva, previously of Logicor.