Cushman & Wakefield facilitates $72M funding deal for Camber and PGIM partnership
A collaborative venture between PGIM and a prominent investment management firm has successfully obtained financing for acquiring a collection of medium-scale distribution and manufacturing properties situated in the Baltimore metropolitan area. This transaction underscores the strong interest institutional investors maintain in light industrial real estate assets.
Cushman & Wakefield successfully structured $72 million in financing to support the acquisition of an approximately 745,270-square-foot industrial portfolio by PGIM’s real estate division and Camber Real Estate Partners, a New Jersey-headquartered investment management company. PCCP furnished the floating-rate financing necessary to complete the acquisition.
The transaction amount remains undisclosed. According to CoStar data, Link Logistics Real Estate served as the selling party.
This strategic acquisition by the new ownership group reflects their commitment to securing premium-quality, infill properties within one of the East Coast’s most supply-limited corridors, as stated in their official announcement. Both Camber and PGIM emphasized that shallow bay facilities — characterized as medium-sized industrial distribution or manufacturing structures — are becoming progressively challenging to develop in markets with high entry barriers, enhancing the strategic value of this recent investment.
“This financing arrangement demonstrates ongoing lender enthusiasm for infill industrial properties situated in supply-constrained markets featuring robust existing cash flow and potential for future rental appreciation,” stated John Alascio of Cushman in an official release. “These strategically positioned assets continue attracting substantial capital investment, particularly in regions like Maryland, given the area’s proximity to expanding population centers and infrastructure networks connecting these properties throughout the East Coast.”
The portfolio encompasses properties located across Halethorpe, Jessup, Middle River, Rosedale, and Baltimore. During the transaction, the portfolio maintained occupancy across 17 distinct tenants from various industry sectors. According to Cushman, the properties currently maintain full occupancy.
Transaction Details
The financing was arranged by Cushman & Wakefield’s Equity, Debt & Structured Finance division, with John Alascio, TJ Sullivan, and Mitch Rothstein representing Camber and its institutional partner.
The selling party was represented by Newmark’s team comprising Cris Abramson, Ben McCarty, Nick Signor, Henry Pleszkoch, and Sam Slater.
