Updated Jul 17, 2026
Camber Development And GEM Realty Capital Secure $40.8 Million Refinance For Wilmington Industrial Portfolio
299 Ballardvale Street & 301 Ballardvale Street
$40,800,000
$203/SF
Building Size
200,750 SF
Asset Type
Industrial
Closing
Jul 17, 2026
About this deal
AI
An industrial asset located at 299 Ballardvale Street and 301 Ballardvale Street in Wilmington, MA, has a total square footage of 200,750. The property, owned by a joint venture of Camber Development and Gem Realty Capital, was refinanced for a total loan amount of $40,800,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $40,800,000
- Address: 299 Ballardvale Street & 301 Ballardvale Street
- Market: Wilmington, MA
- Lender: M&T Bank
- Landlord: Tucker Kelton - Camber Development & Gem Realty Capital
- Brokers: Robert Borden, Heather Brown, Rehan Munsiff & Nolan Alexander - Cushman & Wakefield
- Loan Type: Refinance
The refinancing was arranged by Cushman & Wakefield, involving key individuals including Robert Borden, Heather Brown, Rehan Munsiff, and Nolan Alexander, who contributed to the successful transaction involving the manufacturing and R&D portfolio in Wilmington.
Players
Ballardvale Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93