By Joshua Burd
Camber Real Estate Partners has refinanced a 25-building, 1.2-million-square-foot light industrial portfolio in southern New Jersey and Pennsylvania for more than $89 million.
Brokers with Cushman & Wakefield, which sourced the debt on the borrower’s behalf, said Natixis provided the floating-rate loan in connection with a portfolio that spans Delran, Bridgeport, Evesham, Cinnaminson and Mount Laurel in New Jersey and Bristol, Pennsylvania. The deal follows Camber’s acquisition of the property in late 2020, giving way to more than 40 lease transactions that have increased occupancy from 90 to more than 99 percent.
C&W’s John Alascio, Chuck Kohaut and TJ Sullivan arranged the loan.
“The refinancing of the Crossings Industrial Portfolio approximately 18 months after acquisition is a testament to the strength of the sponsorship and the viability of this highly functional and well-located industrial product,” Alascio said. “It was a pleasure to represent Camber as they continue to execute their highly successful business plan.”
In announcing the $89.1 million loan, C&W noted that each property benefits from regional connectivity via interstates 95 and 295 and access to deep labor pools throughout New Jersey and Eastern Pennsylvania.
