JLL arranges $500 million financing for Westchester industrial portfolio

Westchester County, NY ?JLL?Capital Markets has arranged $500 million in financing for the Westchester Industrial Portfolio, a collection of 42 properties totaling approximately 2.4 million s/f across three strategically located industrial parks.

JLL worked on behalf of a joint venture between affiliates of Dune Real Estate Partners LP and the Robert Martin Company (“RMC”) to secure the loan through Starwood Property Trust.

The Westchester Industrial Portfolio is situated in irreplaceable, infill locations within in the New York metropolitan area. These strategically located properties benefit from significant barriers to entry, limited new supply and unparalleled connectivity to major New York transportation infrastructure, including Interstates 287 and 87, Route 9A and the Saw Mill and Sprain Brook Parkways, providing unparalleled connectivity to the broader New York metropolitan area.

The JLL Capital Markets team was led by senior managing directors Peter Rotchford, Christopher Peck and Andrew Scandalios, managing director Tyler Peck and director Christopher Pratt.

"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."