After arranging $24.9 million in acquisition financing last week for Camber Real Estate Partners, Cushman & Wakefield announced March 14 that it served as exclusive advisor to the firm in securing $72 million in acquisition financing for a 13-building portfolio with properties in New Jersey and Pennsylvania.
The Mid-Atlantic Industrial Portfolio totals 733,899 square feet across West Deptford and Aston, Pa., according to Cushman & Wakefield. A Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut, TJ Sullivan and John Spreitzer represented the borrower; the three-year loan was provided by Natixis.
“The portfolio’s strong in-place cash flow with upside, exceptional regional accessibility and experienced institutional sponsorship drove a highly competitive capital markets execution,” Alascio said in a prepared statement. “We’re grateful for the opportunity to represent Camber on another exciting industrial acquisition.”
In a statement, Kohaut said lenders showed high levels of interest due to the location and function of the portfolio’s assets. Natixis’ terms, he said, will allow Camber to execute its business plan.
According to Camber Managing Principal Christopher Bellapianta, the deal aligns with the firm’s “acquisition criteria of quality real estate in infill path-of-growth locations where we can leverage out platform to add-value.”
The portfolio’s 13 industrial buildings are 95% leased to a diverse roster of tenants, Cushman & Wakefield said. Based in two of Greater Philadelphia’s most sought-after submarkets, the properties are minutes from Interstates 95 and 295 and provide regional connectivity to labor pools across New Jersey and eastern Pennsylvania.