JLL arranges $500M financing for Westchester Industrial Portfolio

NEW YORK CITY, Aug. 27, 2025 – JLL Capital Markets announced today it has arranged $500 million in financing for the Westchester Industrial Portfolio, a premier collection of 42 properties totaling approximately 2.4 million square feet across three strategically located industrial parks in Westchester County, New York.

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 Peter 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."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Dune Real Estate Partners is a New York City-based real estate investment firm executing an investment strategy that focuses on distressed, deep value-add and contrarian investing balanced by region, sector, and risk profile. Dune manages the Dune Real Estate Funds, which were launched by Mr. Daniel M. Neidich in 2005 and have raised approximately $4.3 billion of equity capital to date. Dune invests on behalf of pension funds, sovereign wealth funds, endowments and other large institutions and individuals.

Robert Martin Company is a fully-integrated real estate company headquartered in Elmsford, New York with a distinguished track record of successfully acquiring, developing, and managing investment properties. RMC is Westchester County’s largest diversified developer and builder with more than 20 million square feet of office, warehouse, and residential properties developed and acquired. RMC’s diversified real estate portfolio currently includes over 6 million square feet of properties and 200 acres of developable land, concentrated primarily in the NYC suburbs.