Cushman & Wakefield on Thursday announced it served as the exclusive adviser to Camber Real Estate Partners in the procurement of $89.1 million for the refinancing of the Crossings Industrial Portfolio, a 25-building, 1.2-million-square-foot light industrial portfolio in South Jersey and Bucks County, Pennsylvania. The floating-rate financing was provided by Natixis.
A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut and T.J. Sullivan represented the borrower.
“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.”
The portfolio is comprised of 25 warehouse and light industrial properties totaling approximately 1.2 million square feet located throughout Delran, Bridgeport, Evesham, Cinnaminson and Mount Laurel, as well as Bristol, Pennsylvania. Since acquiring the portfolio at the end of 2020, Camber completed over 40 lease transactions, increasing occupancy from 90% to over 99%.
Each property benefits from exceptional regional connectivity via Interstates 95 and 295 and access to deep labor pools throughout New Jersey and Eastern Pennsylvania.