Natixis originated a $69.5 million floating-rate loan in 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 25 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.
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d'Epargne, Natixis counts over 16,000 employees across 36 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE's networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €12.1 billion, a Basel 3 CET1 Ratiol1l of 11.6% and quality long-term ratings (Standard & Poor's: A+/ Moody's: A1 / Fitch Ratings: A+).