**JV Secures $500M Financing for Westchester Industrial Portfolio**
JLL Capital Markets has successfully arranged $500 million in financing for the Westchester Industrial Portfolio — a significant collection of 42 properties encompassing approximately 2.4 million square feet across three industrial parks within Westchester County, New York.
The financing was secured on behalf of a joint venture between affiliates of Dune Real Estate Partners LP and the Robert Martin Company. The loan was provided by Starwood Property Trust. The JLL team leading the execution included Senior Managing Directors Peter Rotchford, Christopher Peck, and Andrew Scandalios, as well as 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.”
The portfolio’s strategic location offers key logistical advantages due to its proximity to major transportation infrastructure, including Interstates 287 and 87, Route 9A, and the Saw Mill and Sprain Brook Parkways. The properties benefit from high barriers to entry and a limited supply of new industrial development in the surrounding market, contributing to the portfolio’s long-term value.
This financing represents a significant milestone in the joint venture’s ongoing investment and development strategy in the high-demand Westchester industrial market.
