Crossbay's UK Portfolio Surpasses 1Million Sq. Ft. After abrdn Acquisition

In a significant expansion of its UK footprint, Crossbay, a strategy managed by MARK Capital Management, recently acquired a London warehouse from abrdn, increasing its UK holdings to over 1 million square feet. This acquisition is part of Crossbay’s ongoing strategy to expand its urban logistics portfolio, which now comprises 13 assets including prime locations in Watford, Potters Bar, Croydon, Camberley, Manchester, and Park Royal. The acquisitions, part of Crossbay II fund—which closed last year with an impressive €1.5 billion investment capacity—underline the firm's focus on sustainability-focused refurbishments and capital expenditure programs. With the UK becoming a key focus after its exclusion from the first vehicle, Crossbay has seized the opportunity presented by rebased property values and market recovery, strategically aligning its operations with refurbishments to unlock reversionary potential. Beyond the UK, Crossbay has been active across major European markets, now managing a portfolio of approximately 5 million square feet in total.