{"id":1004770031,"date":"2025-08-28T04:29:22","date_gmt":"2025-08-28T12:29:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004770031"},"modified":"2025-09-01T07:19:12","modified_gmt":"2025-09-01T15:19:12","slug":"dune-real-estate-jv-lands-500m-for-2-4-msf-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dune-real-estate-jv-lands-500m-for-2-4-msf-portfolio\/","title":{"rendered":"Dune JV Lands $500M Refi"},"content":{"rendered":"\n<p>A joint venture between affiliates of Dune Real Estate Partners LP and Robert Martin Co. has received $500 million in financing for their Westchester Industrial Portfolio, an assemblage of 42 properties totaling about 2.4 million square feet across three industrial parks in Westchester County, N.Y.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Westchester-Industrial-Portfolio.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"620\" data-attachment-id=\"1004770036\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/dune-real-estate-jv-lands-500m-for-2-4-msf-portfolio\/westchester-industrial-portfolio\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Westchester-Industrial-Portfolio.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Westchester Industrial Portfolio\" data-image-description=\"&lt;p&gt;Image came with the JLL Capital Markets press release via e-mail&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;JLL Capital Markets arranged $500 million in financing for a 42-property, 2.4 million-square-foot industrial portfolio in Westchester County, N.Y. Image courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Westchester-Industrial-Portfolio.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Westchester-Industrial-Portfolio.jpg\" alt=\"Industrial properties that are part of Dune Real Estate Partners LP and the Robert Martin Co.\u2019s Westchester industrial portfolio\" class=\"wp-image-1004770036\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Westchester-Industrial-Portfolio.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Westchester-Industrial-Portfolio.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Westchester-Industrial-Portfolio.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">JLL Capital Markets arranged $500 million in financing for a 42-property, 2.4 million-square-foot industrial portfolio in Westchester County, N.Y., including Cross Westchester Executive Park (pictured here). <em>Image courtesy of JLL Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>JLL Capital Markets arranged the funding through Starwood Property Trust.<\/p>\n\n\n\n<p>The portfolio is described as being \u201cin irreplaceable, infill locations\u201d that benefit from substantial barriers to entry, limited new supply and excellent access to major New York transportation infrastructure, including interstates 287 and 87, Route 9A and the Saw Mill and Sprain Brook Parkways.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/big-investors-gobble-up-ios-in-large-and-small-bites\/\">Big Investors Gobble Up IOS<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Rotchford noted that the sponsors are carrying out a value-creation strategy, following a recapitalization of the portfolio in December 2021.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-mixed-submarket-performance\">Mixed submarket performance <\/h2>\n\n\n\n<p>The industrial space market in Westchester County has widely varying vacancies, from barely 2 percent in the Northeast submarket to about 9 percent in the Southeast submarket, according to a second-quarter report from Lincoln Property Co. The countywide average availability is 5.75 percent, on an inventory of about 39.3 million square feet.<\/p>\n\n\n\n<p>In February, Dune Real Estate Partners and Kearny Real Estate Co. <a href=\"https:\/\/www.commercialsearch.com\/news\/kearny-dune-deliver-orange-county-project\/\">completed a 163,000-square-foot Class A industrial facility<\/a> in Santa Ana, Calif. Harbor Logistics Center was developed on the site of a former 200,000-square-foot office campus, which had been demolished nine months earlier. TDA Investment Group had provided a $50 million construction loan for this project.<\/p>\n\n\n\n<p>Also on the West Coast, Dune is <a href=\"https:\/\/www.commercialsearch.com\/news\/seattle-office-sales-stumble-pipeline-dwindles\/\">well underway with Four 106<\/a>, a 484,700-square-foot office building in Bellevue, Wash. The Blackstone Group provided a $270.5 million construction loan for the project.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL Capital Markets arranged the financing for more than 40 industrial properties. <\/p>\n","protected":false},"author":882,"featured_media":1004770036,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21748,21742,10],"tags":[39846,44006,34930,35694,33469],"class_list":["post-1004770031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-industrial","category-latest","category-northeast","tag-dune-real-estate-partners","tag-jll-capital-markets","tag-lincoln-property-co","tag-robert-martin","tag-starwood-property-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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