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JV Secures $500M Financing for Trio of Westchester Industrial Parks
JLL Capital Markets arranged $500 million in financing for the Westchester Industrial Portfolio, a collection of 42 properties totaling approximately 2.4 million square feet across three industrial parks in Westchester County. Senior managing directors Peter Rotchford, Christopher Peck and Andrew Scandalios, managing director Tyler Peck and director Christopher Pratt worked on behalf of a joint venture between affiliates of Dune Real Estate Partners LP and the Robert Martin Company to secure the loan through Starwood Property Trust.
“The financing supports the sponsors’ continued value-creation strategy following their recapitalization of the portfolio in December 2021,” said Rotchford. “With these properties demonstrating remarkable resilience through multiple economic cycles, combined with benefiting from Westchester County’s severe supply constraints and premium demographics, we expect continued outperformance for this irreplaceable portfolio.”
The properties benefit from significant barriers to entry, limited new supply and connectivity to major New York transportation infrastructure, including Interstates 287 and 87, Route 9A and the Saw Mill and Sprain Brook Parkways.
- ◦Financing
