Agod will be responsible for the management and growth of Weichert offices in Ridgewood, Tenafly and Fort Lee, NJ, as well as Monroe, Larchmont and Rockland County, NY.
Golio and Miessmer bring a wealth of experience and a proven track record of success in the real estate industry.
OneKey has established that effective Aug. 8, 2024, they will no longer display any offers of cooperating compensation to any cooperating brokers.
ELMSFORD— Robert Martin Company announced on Jan. 26 the completed recapitalization of its “Westchester Industrial Portfolio,” a 45 property, infill, industrial portfolio totaling approximately 2.6 million square feet across three parks located across Westchester County.
As part of the recapitalization, Robert Martin of Elmsford entered into a new joint venture with affiliates of New York City-based Dune Real Estate Partners LP (Dune) to own and operate the portfolio. The three parks included in the recapitalization are believed to be Robert Martin’s Cross Westchester Executive Park in Elmsford, its South Westchester Executive Park in Yonkers and its Mid-Westchester Executive Park in Hawthorne.
JLL arranged the equity recapitalization between Robert Martin and Dune, and also procured a $455-million, floating-rate, non-recourse loan with Bank of America. The JLL team was led by Mike Tepedino, Andrew Scandalios, Jose Cruz, Peter Rotchford and Tyler Peck.
“This portfolio has continuously outperformed throughout multiple economic cycles,” said Timothy Jones, CEO of Robert Martin. “We continue to have strong conviction in this portfolio as well as the underlying fundamentals of this market. We’re excited to continue Robert Martin’s ownership of and commitment to this portfolio and the Westchester County market.”
“We are excited about our joint venture with Robert Martin, a partner with a strong track record within Westchester’s industrial market,” added Daniel M. Neidich, CEO of Dune. “The Westchester Portfolio is well-positioned to capture strong tenant and investor demand for industrial assets in irreplaceable locations within the supply-constrained New York metroplex.”
Dune Real Estate Partners is 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 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.
Agod will be responsible for the management and growth of Weichert offices in Ridgewood, Tenafly and Fort Lee, NJ, as well as Monroe, Larchmont and Rockland County, NY.
OneKey has established that effective Aug. 8, 2024, they will no longer display any offers of cooperating compensation to any cooperating brokers.
At $1.3 million, Chinese buyers had the highest average purchase price, with 25% purchasing property in California.
Station Lofts will consist of a five-story, 180-unit Class A multifamily residential development, ranging from studios to two-bedroom homes.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
