MARK Capital Management has secured €240 million in the first close of Crossbay III, its third pan-European urban logistics value-add fund. The London-based manager is targeting its largest-ever fundraise, with CBRE IM's Indirect business among the earliest investors.

CBRE IM's participation signals institutional validation of the strategy, as the global real estate investment giant's indirect platform typically conducts extensive due diligence before committing capital. The strong initial close reflects continued appetite for European logistics assets despite broader market uncertainty.

Urban logistics remains attractive to institutional investors as e-commerce growth fuels demand for last-mile delivery facilities across major European cities. MARK Capital's value-add approach targets properties with repositioning or redevelopment potential, offering investors exposure to a sector that has outperformed other real estate asset classes in recent years.