Press Release •

●      New country lead will aim to increase AUM to €300m over the next three years

●      Clemens Goss will be supported by ex-CBRE broker Cristian Siegmund

●      Crossbay Germany currently manages four last-mile assets

Crossbay, the first pan-European urban logistics platform to target single-user distribution centres, has appointed Clemens Goss to lead its German team.

Goss joins from Munich-based developer GIEAG Immobilien AG, where he was head of commercial and logistics real estate. At GIEAG, his responsibilities included logistics transactions, developments in the Erfurt and Leipzig area and design works for new sustainable business parks.

Goss started his logistics property career at e-commerce giant Amazon, where he initiated the leasing and development of almost 900,000 sq. m. of warehousing space. Between Amazon and GIEAG, Goss was head of an industrial real estate agency at JLL.

Goss will be joined by Cristian Siegmund, previously a transactions manager at CBRE, with positions in both Frankfurt and London. Siegmund, who joins Crossbay as a Vice President, will focus on securing new acquisitions.

Crossbay Germany’s team is currently responsible for a c.20,000 sq. m. portfolio, with four properties in Nuremberg, Lübeck, Teningen and Neu Wulmstorf.

Crossbay is looking to increase its assets under management (AUM) in Germany to €300m over the next two to three years following last year’s successful capital raise and recent debt facility with Citi.

Marco Riva, head of Crossbay and logistics at MARK, said: “We continue to invest in strengthening our country-specific teams with new hires that can help us meet our ambitious growth targets.

“Clemens and Cristian bring with them impressive networks and track records, working with major market players such as Amazon, CBRE and JLL. I look forward to working with both in expanding Crossbay’s presence in Germany.”

Clemens Goss, Vice-President – Germany at Crossbay, said: “Crossbay’s successful refinancing and fundraise mean the platform is well placed to respond to opportunities in the German logistics market.”

“This is a hugely exciting time to be in last mile logistics. German shopping habits are set to be permanently altered by coronavirus, resulting in heightened demand for warehousing space, especially in urban locations. My focus will be on driving activity across acquisitions and leasing while delivering value for investors.”

Christian Siegmund, Vice President at Crossbay, said: “With its focus on single-tenant assets, Crossbay occupies a unique place in the increasingly competitive last-mile logistics market.

“The pandemic has accelerated the structural changes driving demand for urban logistics space and I am excited to be part of the platform’s growth story in Germany.”

Launched in May 2020 by leading private equity real estate investment manager MARK, Crossbay’s investors include the Townsend Group, CBRE GI, Credit Suisse, Nuveen and QInvest LLC.

Last year’s €550m fundraise was followed by a €400m debt facility from investment bank Citi, announced this January, which will help further fund the platform’s growth and expansion.

Crossbay’s 500,000 sq. m. portfolio hosts a high-profile tenant base, counting leading 3PLs such as FedEx and DHL, as well as major e-commerce brands like Amazon, as occupiers.

The last-mile logistics sector has seen accelerated growth as a result of Covid-19, with repeated lockdowns introducing new demographics to online shopping.

In Europe’s five largest economies – France, Germany, Italy, the UK and Spain, which are all countries where Crossbay has a presence – the combined value of online sales is expected to exceed €345bn by 2023 according to Mintel.

In Western Europe more widely, online sales are expected to make up 15.6 percent of total sales by 2023 according to GlobalData. This is up from just 9.7 per cent in 2019.