Mark’s urban logistics platform Crossbay has secured €550m (£490m) in equity commitments, as it sets its sights on growing its portfolio to up to €1.5bn GAV.
Five investors are involved, 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, a subsidiary of Qatar Islamic Bank.
Mark, previously known as Meyer Bergman, launched Crossbay in May. It specialises in single-tenant properties in gateway cities, with particular focus on France, Germany and the Benelux region.
The platform has more than €500m of assets under management and is led by Marco Riva, who was previously at Blackstone portfolio company Logicor.
Crossbay’s tenant line-up includes FedEx, DHL and Amazon.
Marcus Meijer, chief executive of Mark, said: “By investing in creating a branded platform, and focusing on a specific niche within the increasingly competitive last-mile logistics sector, we have managed to secure interest from leading investors across the globe despite the pandemic.
“Our focus going forward will be to maintain the current pace of acquisitions to build a portfolio of sufficient size and scale.
“Looking ahead, we see further opportunities within logistics real estate and will be looking to grow our exposure to this asset class, which has clear long-term growth drivers that are underpinned by the mega-trends of urbanisation and technological change.”
Separately, the private investment firm also plans to launch new country-specific residential platforms and to expand into life sciences and digital real estate.
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
