IL-WESTMOUNT-REALTY
Westmount Realty Capital, a privately held, Dallas-based commercial real estate company announced today that it is partnering with a fund managed by the Real Estate Group of Ares Management Corporation, a leading global alternative investment manager, to recapitalize a 51-asset industrial portfolio totaling 6.1 million square feet located in established industrial submarkets of Chicago and Milwaukee. Westmount and Ares acquired the institutional-quality portfolio of logistics, bulk distribution, and last-mile industrial properties from a Partners Group Westmount joint venture.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220126005816/en/
The portfolio consists of primarily infill, multi-tenant light industrial properties that provide enduring functionality and long-term leasing optionality. The majority of the portfolio is located in the Chicago MSA, and the largest cluster of assets is proximate to O’Hare International Airport. The portfolio is currently 98.8% leased to a roster of 123 national and regional tenants with an attractive lease rollover profile. The top 10 tenants in the portfolio account for 42.5% of the total leased area with no single tenant accounting for more than 9.9% of the portfolio.
“This is a monumental day for us, and it speaks to Westmount’s tenacious approach to asset management and value-add investment strategy,” said Cliff Booth, Westmount’s founder and chairman. “Westmount has been active in the industrial market for more than 35 years, and that knowledge helped us gather this collection of institutional-quality industrial properties. We are pleased to recapitalize and reinvest in this portfolio and look forward to working with our new partner Ares as we continue to drive further value across this portfolio.”
Driven by a highly connected rail and highway system, Chicago is an international trade hub for the Midwest, as well as a critical market for distribution networks. Its highway system serves 9.5 million residents, and 30% of all U.S. freight originates or passes through Chicago. The city also continues to rank as a top 5 market for net absorption of industrial space nationally.
“The attributes of the properties within the portfolio — size, design and location — are difficult and expensive for industrial developers to replicate, further driving increased occupancies and rent growth trajectory,” said Brant Brown, Westmount’s president and COO. “The combination of strong tenant demand, coupled with limited new supply of infill industrial product, is expected continue to drive rent growth throughout the portfolio in the coming years.”
Michael Caprile with CBRE and Josh McArtor with Eastdil handled the transaction on behalf of the seller.
About Westmount Realty Capital
Westmount Realty Capital, LLC is a time-tested, privately held, Dallas-based commercial real estate company that has achieved exceptional performance, with a core team in place, for more than 35 years. Westmount is seen as an innovator and leading-edge company in the industry and is a relationship-driven trusted operating partner of numerous U.S. and foreign institutional and private capital sources. The company is active within the U.S., specializing in value add and opportunistic investments, and has navigated successfully through multiple market cycles. For additional information, contact www.westmountrc.com.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2021, Ares Management Corporation's global platform had approximately $282 billion of assets under management, with approximately 2,000 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com .
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 150 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With over USD 119 billion in assets under management as of 30 June 2021, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220126005816/en/
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Cessna Citation CJ3 Gen2 Enters Into Service, Delivering the Most Significant Gen2 Updates to Date8.1.2026 22:30:00 CET | Press release
The Cessna Citation CJ3 Gen2 has entered into service, setting a new standard for the Citation Gen2 family. Launch customers and longtime Citation owners Dave Mecartney and Shannon Day took delivery of their new aircraft this week. Mecartney—an experienced aviator with nearly two decades flying Citation light jets and a member of Textron Aviation’s Customer Advisory Board—helped shape the enhancements that elevate the CJ3 Gen2 experience. Key upgrades include Garmin autothrottle technology, added pilot legroom and a fully customizable cabin environment, all driven by customer feedback. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260108455097/en/ Cessna Citation CJ3 Gen2 enters into service, delivering the most significant Gen2 updates to date (Photo credit: Textron Aviation). The Cessna Citation CJ3 Gen2 is designed and manufactured by Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company. “The Citation CJ3 Gen2 deliv
Andersen Global tilføjer González-Paullada Domínguez i Monterrey, Mexico8.1.2026 22:06:00 CET | Pressemeddelelse
Andersen Global udvider sin latinamerikanske platform gennem en samarbejdsaftale med det Monterrey-baserede advokatfirma González-Paullada Domínguez (GPD) og styrker dermed organisationens tilstedeværelse i Mexico yderligere. GPD blev grundlagt i 2021 og tilbyder omfattende rådgivning inden for både transaktions- og procesretlige forhold. Firmaet rådgiver klienter på tværs af brancher – herunder produktion, ejendom, forsikring, informationsteknologi, minedrift og bankvæsen – om selskabsret, fusioner og opkøb, ejendomstransaktioner, udenlandske investeringer, kommercielle kontrakter, regulatorisk compliance samt løbende juridiske gennemgange. GPD repræsenterer desuden klienter i komplekse civile og kommercielle retssager, voldgiftssager og insolvensbehandlinger. "Monterrey er et væsentligt økonomisk knudepunkt, hvor lokal troværdighed og stærke relationer er afgørende – særligt for udenlandske investorer, der ønsker at etablere sig på markedet," udtaler Alfonso González-Paullada Guerrer
Andersen Global udvider sine skattekompetencer i Afrika med tilføjelsen af Luca Pacioli8.1.2026 21:02:00 CET | Pressemeddelelse
Andersen Global udvider sin tilstedeværelse i Nordafrika gennem en samarbejdsaftale med Luca Pacioli, et skatte-, regnskabs- og selskabsservicefirma med hovedsæde i Tunesien og kontorer i Tunis og Sfax. Luca Pacioli blev stiftet i 1986 af Mongi Ben Mahmoud og ledes nu af administrerende partner Arcelin Ben Mahmoud. Virksomheden er registreret hos den tunesiske revisorforening (OECT) og leverer integrerede skatte-, regnskabs- og virksomhedsrådgivningstjenester baseret på dyb teknisk ekspertise og indsigt i lovgivningen. Firmaet tilbyder fuld support inden for skatterådgivning og -planlægning, international beskatning og IBFD-certificeret transfer pricing samt skattesager og retssager, compliance- og HR-tjenester, finansiel rapportering og M&A-rådgivning. Dets omfattende kompetencer strækker sig også til stiftelse, administration og omstrukturering af selskaber og juridiske sekretariatsydelser, hvilket gør det muligt for lokale og internationale kunder på tværs af sektorer som finans, pr
SPIE, the International Society for Optics and Photonics, Announces Its 2026 Society Awards8.1.2026 18:26:00 CET | Press release
The 22 award recipients represent an exciting range of stellar achievements across light-based sciences and technologies Today, the Awards Committee of SPIE, the international society for optics and photonics, announced the recipients of its prestigious annual awards. Honoring transformative advancements across a range of professional areas — including medicine, astronomy, lithography, optical metrology, optical design, and community leadership — the Society's awards recognize technical accomplishments as well as committed service to SPIE and support of its organizational mission. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260108227351/en/ SPIE, the international society for optics and photonics, awarded their Gold Medal to Maryellen Giger (pictured here with her team) for pioneering work in computer-aided diagnosis and image analysis/AI, significant impact on clinical translation, and supporting the next generation of m
PUMA Appoints Nadia Kokni as Vice President Global Brand Marketing8.1.2026 16:30:00 CET | Press release
Sports company PUMA has appointed Nadia Kokni as Vice President, Global Brand Marketing, effective January 1, 2026. Nadia joins PUMA’s global leadership team and reports directly to Chief Brand Officer Maria Valdes. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260108099913/en/ Sports company PUMA has appointed Nadia Kokni as Vice President, Global Brand Marketing, effective January 1, 2026. Nadia joins PUMA’s global leadership team and reports directly to Chief Brand Officer Maria Valdes. In her new role as PUMA’s most senior global marketing leader, Nadia will oversee brand marketing strategy, brand marketing creative direction, integrated marketing and communication globally. Her appointment comes as PUMA accelerates its global brand ambition and sharpens storytelling around its product icons and innovation pipeline. Nadia brings deep international experience shaping and transforming leading global brands across the spor
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom