Natixis originated a $69.5 million floating-rate loan to a joint venture between Camber Real Estate Partners and a global insurance company on the Crossings Light Industrial Portfolio, a 1.24 million square foot industrial portfolio in Southern New Jersey and Southeastern Pennsylvania. Camber Real Estate Partners is a Montclair New Jersey based investment and development company led by Christopher Bellapianta and Dave Surti.
The portfolio includes twenty-five individual properties primarily consisting of distribution and light industrial uses. The portfolio is over 96.8% leased by a diversified rent roll with a weighted average tenure of more than 10 years.
The properties within the portfolio are located in high barrier-to-entry, infill locations with easy access to Philadelphia as well as southern and central New Jersey.
This financing marks the second transaction between Natixis and the client.
The financing was arranged by John Alascio and Sridhar Vankayala from Cushman & Wakefield’s Equity, Debt & Structured Finance team.