M&T Provides Refi to Camber Realty JV on Manufacturing/R&D Portfolio

Cushman & Wakefield arranged a $40.8-million refinancing for a two-building manufacturing and R&D portfolio at 299 and 301 Ballardvale St. in Wilmington, MA. The Equity, Debt & Structured Finance team of Rob Borden, Heather Brown, Rehan Munsiff and Nolan Alexander represented the borrower in securing the refi from M&T Bank

Totaling 200,750 square feet, the properties were enhanced and fully stabilized by ownership, a joint venture between Camber Development and GEM Realty Capital, over the past 12 months. The JV increased occupancy from 72% to 100% across a diversified tenant roster.

“This transaction showcases a high-quality portfolio where the borrower created significant value through a disciplined lease-up and stabilization strategy,” said Borden. “The assets generated strong interest from a diverse pool of capital sources, resulting in a highly competitive financing process, and the outcome a testament to the successful execution of Camber and GEM.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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