Starwood provides $500M to refi Westchester industrial properties

Barry Sternlicht’s Starwood Property Trust is playing a major role in the industrial market once again, this time as a lender. Starwood lent $500 million to Dune Real Estate Partners and Robert Martin Company to refinance the partnership’s 42-asset industrial portfolio in New York’s Westchester County, the Commercial Observer reported. The portfolio spans 2.4 million square feet in the New York City-adjacent market. The loan follows a $455 million recapitalization of the portfolio four years ago from Bank of America, which also brought the Dune affiliate into the fold. A JLL Capital Markets team including Christopher Peck, Peter Rotchford and […]This article originally appeared on The Real Deal. Click here to read the full story.