Cushman & Wakefield arranges $28.25 million financing for Westchester industrial portfolio

Mamaroneck, NY Cushman & Wakefield served as the exclusive advisor to East Capital Partners in arranging $28.25 million in acquisition financing for a six-asset small-bay industrial portfolio in Westchester Count. The floating rate financing was provided by Sound Point Capital Management.

A Cushman & Wakefield equity, debt & structured finance team of John Alascio, TJ Sullivan, and Mitch Rothstein represented the borrower in the transaction.

“This portfolio represents a compelling opportunity to acquire well-located small-bay industrial assets in one of the most supply-constrained markets in the New York metropolitan area,” said Drew Dewitt, co-founder at East Capital Partners. “Westchester County’s strong tenant demand, limited new development, and proximity to New York City make it an attractive market for long-term investment. We are pleased to execute on this acquisition and look forward to enhancing the portfolio through active management and strategic leasing.”

“Westchester County continues to demonstrate exceptionally strong industrial fundamentals, particularly within the small-bay segment which has consistently outperformed other product types,” said Alascio, vice chair at Cushman & Wakefield. “We are pleased to have arranged this financing with Sound Point Capital Management, whose execution provided the ideal capital structure to support East Capital Partners’ business plan for this high-quality portfolio.”

The portfolio consists of small-bay industrial assets. The properties included in the sale are 500 & 520 Fenimore Rd.; 628 Waverly Ave.; and 480, 500, 503 & 510 Ogden Ave.