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CushWake arranges $89.1M refi for Camber’s Crossing Industrial Portfolio

South Jersey package boasts 25 buildings, 1.2M square feet

Jessica Perry//October 17, 2022

CushWake arranges $89.1M refi for Camber’s Crossing Industrial Portfolio

South Jersey package boasts 25 buildings, 1.2M square feet

Jessica Perry//October 17, 2022

Camber Real Estate Partners secured $89.1 million in refinancing for the Crossing Industrial Portfolio: a 25-building, 1.2 million-square-foot light industrial package located in South Jersey and Bucks County, Pa.

Cushman & Wakefield served as exclusive adviser to Montclair-based Camber in the procurement of the funds, that company announced Oct. 13, with the floating-rate financing provided by Natixis.

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The Port Newark Light Industrial Park is a five-building, 113,743-square-foot industrial portfolio located at 119, 175 & 182 Hill St. and 43 Hickory St. in Orange.
– CUSHMAN & WAKEFIELD

A joint venture of Westbrook Partners and Camber Real Estate acquired the 113,743-square-foot Port Newark Light Industrial Park in Essex County. Read more

A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut and TJ 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 in a statement. “It was a pleasure to represent Camber as they continue to execute their highly successful business plan.”

That same CushWake trio was also part of a team that helped to secure $69.5 million in financing for Camber for the Crossings Industrial Portfolio in 2021, which was also provided by Natixis.

Camber has completed more than 40 lease transactions at the properties since its acquisition of the package at the end of 2020 — increasing occupancy in the state’s in-demand industrial market from 90% to more than 99%, according to Cushman & Wakefield.

The portfolio is located throughout Delran, Bridgeport, Evesham, Cinnaminson and Mount Laurel in New Jersey, and in Bristol, Pa., with regional connectivity via Interstates 95 and 295.

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