Crossbay has acquired a c. 6,039m2 single-let warehouse in Dartford from abrdn, which follows a string of recent UK acquisitions for its second value-add fund – Crossbay II. A total of c. 5.6ha was added to Crossbay’s UK portfolio in 2024 - which now includes 13 assets – as the last mile specialist steadily grew its portfolio in the UK’s most strategically located logistics hubs.
Crossbay CEO Marco Riva commented: “Sharply rebased values and the ongoing market recovery has created an attractive buying window in the UK and we see this extending into 2025. Being well-capitalised and having a granular origination function means we are well-placed to take advantage of this. Our conviction in the UK is also informed by its high volumes of legacy stock that fail to meet today’s regulatory standards, making it strategically aligned with our focus on investments where reversionary potential and sustainability-linked outperformance can be unlocked through comprehensive refurbishment programmes. By doing this successfully, we are creating a highly future-proof portfolio in one of Europe’s most sought-after and inflation-linked asset classes, and where we believe the next few years will represent excellent vintages.”
Image source - Crossbay.
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