Camber Real Estate Partners has acquired the Crossings Industrial Portfolio, a 25-building, 1.2 million-square-foot light industrial portfolio situated across Bucks County, Philadelphia and Southern New Jersey.
The financial terms and seller were not disclosed; however, Camber received $69.5 million for the financing.
“The portfolio represents an ideal mix of functional, multi-tenanted and well-located light industrial assets in Greater Philadelphia’s most sought-after submarkets: Bucks County and Southern New Jersey,” said John Alascio, Cushman & Wakefield Equity, Debt & Structured Finance team member, which served as the exclusive adviser to Camber. “The portfolio’s strong performance throughout the COVID-19 pandemic is exemplary of the strong and diversified tenant roster, as well as the area’s unprecedented tenant demand.”
