Crossbay acquires three UK urban logistics assets

Crossbay, the urban logistics strategy of MARK Capital Management, has expanded its UK portfolio with the acquisition of three assets totalling 325,000 sq ft, reinforcing its conviction in core regional logistics hubs with strong fundamentals. 

Logistics - Crossbay

The assets include two single‑let facilities in Birmingham and a prime distribution centre in Lutterworth. All were acquired from charitable organisations and sit within established last‑mile and national distribution locations.

In Tipton, Birmingham, Crossbay has acquired Apex II, an 85,000 sq ft asset let to A.F. Blakemore & Sons. Positioned between the M6 and M5 motorways, the property offers strong connectivity and immediate asset‑management potential. Crossbay plans to implement a targeted capex programme to deliver Grade A, ESG‑focused upgrades and capture underlying rental reversion.

Nearby in Halesowen, the company has acquired a 55,000 sq ft facility at Coombswood Business Park, let to Toolbank since construction. The low‑density site provides immediate access to reversion within 12 months, offering a clear value‑creation pathway.

The largest of the three acquisitions is Unit 3320 at Magna Park, Lutterworth, a prime 185,000 sq ft distribution centre located within the UK’s Logistics ‘Golden Triangle’. Fully let to VWR International Ltd, which has operated its primary UK distribution centre at the site for more than 30 years, the asset offers long‑term income security in one of the country’s most sought‑after logistics locations.

The acquisitions further accelerate Crossbay’s momentum in the UK, where its portfolio now exceeds 1.75 million sq ft. The strategy, which also invests across Germany, France, Italy, Spain and the Benelux region.  

Devan du Plooy, Managing Director at MARK Capital Management, said Crossbay’s deep origination network and dedicated team continue to deliver value for LPs seeking exposure to the highly defensive urban logistics segment.

Rodney Hunt, Vice President at Crossbay, added that broader market repricing has created an attractive entry point following the pandemic‑era peak, with the new acquisitions underscoring the platform’s conviction in core regional hubs.