Crossbay, the urban logistics subsidiary of MARK Capital Management, has acquired three UK assets totalling 325,000 sq ft across the East and West Midlands.
Crossbay has acquired Unit 3320 at Magna Park in Luttleworth
The single-let industrial assets are at Magna Park in Lutterworth; Apex II in Tipton, West Bromwich; and Coombswood Business Park in Halesowen. All were acquired from charitable organisations.
The largest asset is a prime 185,000 sq ft distribution centre, Unit 3320 at Magna Park, fully let to VWR International as its primary UK distribution centre.
At Apex II in Tipton, an 85,000 sq ft asset let to AF Blakemore & Sons, Crossbay plans an ESG-focused upgrade to bring the asset up to grade-A standard and capture the underlying rental reversion.
The 55,000 sq ft asset at Coombswood Business Park is let to Toolbank, and Crossbay said the low-density site offered immediate potential for rent reversion within 12 months.
Crossbay’s UK portfolio now exceeds 1.75m sq ft, up from 1m sq ft in February 2025. The vehicle also invests across Germany, France, Italy, Spain and the Benelux region.
In 2024, MARK’s final equity raising for Crossbay II, the latest vehicle in its urban logistics fund series, secured €660m (£548m).
Crossbay vice-president Rodney Hunt said: “These acquisitions underscore our continued conviction in core UK regional logistics hub assets with strong fundamentals and clear reversionary upside. Broader repricing across the market has maintained an attractive entry point, following the highs of the pandemic-era boom.”
Devan du Plooy, managing director at MARK Capital Management, added: “Our deep origination network, growing dedicated Crossbay team and full lifecycle capabilities together mean we can continue to deliver value for our LPs [limited partners], who increasingly seek access to the urban logistics segment thanks to its highly defensive profile.”
Crossbay was advised by Apex Real Estate Advisors on the Apex II deal, Avison Young on the Coombswood Business Park deal and SBYRE on the Magna Park transaction.
The vendors were advised by MK2 Real Estate on the Apex II deal, Aspect Real Estate at Coombswood Business Park and Stonehill Partners for the Magna Park transaction.
