Crossbay: from Poland to Paris
Following the acquisition of two sites in Łódź and Warsaw, Poland, the European urban logistics platform Crossbay, which was launched in 2020, has acquired a 7,500 sqm multi-storey urban logistics asset in Saint Denis, a few kilometres outside Paris, for an undisclosed sum in an off-market transaction. The vendor is a private family office.
The real estate features 3,500 sqm of ground floor space, with platforms for heavy goods vehicles and light vehicles, as well as single-level doors on three sides. The acquisition brings the company’s France portfolio to 20 properties with a collective value of about EUR 180 million.
Crossbay aims to secure EUR 500 million in assets under management in France within the next two years. In the current case, Crossbay France was advised by Cushman & Wakefield for commercial due diligence, C&C Notaries, Jones Day for legal aspects, Etyo (technical and environment), and Deloitte and Taj (finance and taxation). Crossbay's parent is private equity real estate investment manager Mark. (sh)
https://crossbay.thisismark.com/