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
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