Report: MARK Cap Mgmt Closes Second Pan-European Logistics Fund at €660M

London-based real estate investment firm MARK Capital Management has closed on its Crossbay II fund with €660M in capital commitments, according to a report from PERE.

Crossbay II was launched in October 2022, targeting €800M to €1B in capital commitments after the sale of Crossbay I to San Francisco-based Prologis for €1.6B a month prior. Like its predecessor, the fund mainly aims to acquire and manage critical last-mile facilities for urban logistics.

The first close of Crossbay II was undersubscribed at €265M; however, the fund managed to pick up pace with the help of CBRE IM and other returning investors, according to PERE. In the end, the firm reportedly had to turn away €200M in commitments. MARK expects Crossbay II to be fully deployed by the end of 2025, and the firm is now preparing for the launch of a third fund.

Source: https://www.perenews.com/mark-holds-final-close-for-crossbay-ii-readies-successor/