On October 22, 2021, real estate investment manager Mark announced that Crossbay, the pan-European urban logistics platform incubated by them, has acquired its first two assets in Poland.
According to Mark, the two assets are located in Warsaw and Lodz and together represent approximately 100,000 square meters of warehousing space. Both sites were acquired from Panattoni Europe for an undisclosed sum.
Mark also informed that they launched Crossbay in May 2020 to enable institutional investors such as pension funds and insurers to grow their exposure to the fast-growing last-mile logistics sector. Crossbay’s focus lies in single-user distribution centers in locations no more than a 90-minute away from the center of the nearest city.
“Our entrance into Poland through this double acquisition of two prime assets demonstrates our ambition to become Europe’s leading urban logistics platform,” commented Head of Crossbay and Logistics at Mark Marco Riva. “Despite the ever-growing weight of capital looking to enter Europe’s last-mile logistics markets, we continue to see opportunities for value creation. By leveraging our network of on-the-ground teams, we can source attractively priced opportunities and take a hands-on approach to asset management.”