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New York & Tri-State  + Fairfield/Westchester  + Industrial  |  February 2, 2022
Robert Martin Company has recapitalized its Westchester County light industrial portfolio with Dune Real Estate Partners
Paul Bubny
By: Paul Bubny

JLL Arranges $455M Loan on Westchester Industrial Recap 

Robert Martin Company recapitalized its Westchester Industrial Portfolio, a 45-property, infill, industrial portfolio totaling approximately 2.6 million square feet across three parks and located across Westchester County. As part of the recapitalization, Robert Martin entered into a new joint venture with affiliates of Dune Real Estate Partners LP to own and operate the portfolio. 

JLL arranged the equity recapitalization between Robert Martin and Dune, and also procured the $455-million, floating-rate, non-recourse loan with Bank of America. The JLL team was led by Mike Tepedino, Andrew Scandalios, Jose Cruz, Peter Rotchford and Tyler Peck. 

“This portfolio has continuously outperformed throughout multiple economic cycles,” said Timothy Jones, CEO of Robert Martin. “We continue to have strong conviction in this Portfolio as well as the underlying fundamentals of this market. We’re excited to continue Robert Martin’s ownership of and commitment to this Portfolio and the Westchester County market.” 

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Inside The Story

JLL's Tepedino

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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