MARK Capital Management, a leading real estate investment firm based in London, has successfully raised €660 million for its second pan-European urban logistics fund, Crossbay II. The fund reflects growing investor interest in urban logistics, driven by the rapid expansion of e-commerce and the demand for efficient last-mile delivery solutions.
A Major Fundraising Achievement
Launched in October 2022, Crossbay II set a target between €800 million and €1 billion in commitments. While the fund closed slightly below this range, its total investment capacity exceeds €1.5 billion, thanks to leverage from debt financing.
The fund attracted a diverse group of investors, with 60% being direct third-party participants, including:
- A sovereign wealth fund,
- A Nordic pension fund,
- An Asian insurance company, and
- A U.S. family office.
The remaining 40% consists of indirect investors, such as multi-managers and consultants.
Strategic Focus on Urban Logistics
Crossbay II continues MARK’s strategy of acquiring single-tenant distribution centers strategically located near major European cities. This approach enables efficient last-mile delivery, meeting the needs of urban e-commerce.
Key geographic regions for the fund include:
- France,
- The Benelux region,
- Germany,
- Spain,
- Italy, and
- The UK, which has been added to the portfolio for the first time.
Investment Plans and Future Growth
The fund already boasts a robust portfolio valued at approximately €1 billion, including its near-term pipeline. MARK Capital has ambitious goals:
- 60% of capital deployed by year-end 2024.
- Full investment by the end of 2025.
Building on this momentum, MARK plans to launch a third value-add fund in the coming year, aimed at further expanding its urban logistics platform.
Market Context: E-commerce and Urban Logistics
The success of Crossbay II underscores the resilience of the urban logistics sector. The ongoing boom in e-commerce has heightened the need for strategically located distribution centers capable of supporting last-mile delivery. Urban logistics has become a critical link in modern supply chains, and MARK’s focus on this sector positions it to benefit from long-term growth trends.
About MARK Capital Management
Formerly known as Meyer Bergman, MARK Capital Management specializes in urban transformation projects across Europe. Beyond logistics, the firm invests in residential and life sciences sectors, reflecting a commitment to reshaping urban environments.
Conclusion
MARK Capital’s €660 million Crossbay II fund marks another milestone in the evolution of urban logistics in Europe. With its strategic focus and robust investment pipeline, the firm is well-positioned to lead in this dynamic and rapidly growing sector.
As e-commerce continues to reshape supply chains, urban logistics will remain at the forefront of investment opportunities, providing efficient solutions for the future of delivery networks.
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