IL-WESTMOUNT-REALTY
26.1.2022 19:35:08 CET | Business Wire | Press release
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
Flashnet Partners with Netmore in Strategic Global Partnership for Smart Street Lighting1.9.2026 08:00:00 CEST | Press release
Collaboration combines carrier-grade LoRaWAN® connectivity with award-winning smart street lighting technology to accelerate smart city transformation Netmore Group, the leading network operator and platform provider for Massive IoT, today announced that Flashnet, a Lucy Group company and global leader in intelligent street lighting solutions, has joined Netmore's Pulse Partner Program. The partnership marks another important milestone in Netmore's growing ecosystem, combining best-in-class connectivity with proven smart infrastructure solutions to accelerate the digital transformation of cities and utilities around the world. Driven by rapid urbanisation, government sustainability mandates, and the accelerating rollout of smart city programs worldwide, smart street lighting is increasingly recognized as the entry point for smart city transformation and one of the fastest-growing segments of the global IoT infrastructure market. As municipalities and utilities continue to modernize cri
Fujirebio Expands Access in Canada to Blood-based Neurology Testing with Health Canada Class II Medical Device Licenses for the Lumipulse® G NfL Blood and Lumipulse G pTau 217 Plasma Assays1.9.2026 07:00:00 CEST | Press release
H.U. Group Holdings Inc. and its wholly owned subsidiary Fujirebio today announced that Health Canada has issued Class II Medical Device Licenses (MDL) for the Lumipulse G NfL Blood and the Lumipulse G pTau 217 Plasma assay for use on the fully automated LUMIPULSE® G immunoassay platform in the Canadian market. "The approval of the Lumipulse G NfL Blood and Lumipulse G pTau 217 Plasma assays for clinical use in Canada marks another important step in our mission to expand access to reliable and clinically meaningful blood-based biomarkers for clinicians and patients worldwide," said Christiaan De Wilde, CEO of Fujirebio Europe N.V. “As a pioneer in neurological diagnostics, Fujirebio remains committed to advancing patient care through innovative, fully automated testing solutions." These approvals further strengthen Fujirebio’s comprehensive neurological diagnostics portfolio by broadening access to high-quality biomarker solutions designed to inform clinical decision-making across the
Helical Fusion Named a Final Candidate for Japan’s METI Fusion Power Demonstration Program1.9.2026 04:00:00 CEST | Press release
Milestone-based government program supports multiple fusion approaches toward power demonstration and commercialization Helical Fusion Co., Ltd., a fusion energy company developing a Helical Stellarator toward commercially viable fusion power, has been named a final candidate for Japan’s Ministry of Economy, Trade and Industry (METI) program supporting the demonstration of fusion power generation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260831991676/en/ Image of Helix HARUKA, Helical Fusion’s Integrated Demo Device(left), and Helix KANATA, Helical Fusion’s Fusion Pilot Plant(right) The program is designed to accelerate fusion power demonstration in the 2030s under Japan’s national energy and fusion strategies. It supports private-sector technology development across multiple fusion approaches, including tokamak, stellarator and laser fusion, with approximately JPY 60 billion in total government support anticipated ove
Strategic Combination of ITC Infotech and Happiest Minds Technologies to Create a Scaled, Future-Ready, AI-First Global Technology Services Enterprise with US$ 1 Billion Revenue by FY28[1]31.8.2026 23:35:00 CEST | Press release
ITC Infotech Board approves proposed acquisition of 22.1% promoter stake and a Scheme of Amalgamation of the two companies ITC Infotech (ITCI), a wholly owned subsidiary of ITC Limited and a leading global technology services player, today announced the proposed strategic combination with Happiest Minds Technologies Limited (Happiest Minds) to create a scaled, future-ready, AI-first global technology services enterprise. The ITCI Board approved a proposal to acquire 22.1% equity stake from the promoter of Happiest Minds in two tranches under a Share Purchase Agreement. The transaction would be funded through a Rights Issue by ITC Infotech. ITCI Board has also approved a proposed Scheme of Amalgamation of Happiest Minds with ITCI which will be effected after the share acquisition. Pursuant to the scheme, the shares of ITCI will be listed on the stock exchanges. The proposed transaction has also been endorsed by the Board of Directors of ITC Limited. This strategic combination will syner
Angel’s Profits Grew Robustly in the First Half of 2026 with Europe and North America Turning Profitable Ahead of Schedule31.8.2026 21:07:00 CEST | Press release
Angelalign Technology Inc. (“Angel” or the “Company”) (6699.HK) (angelaligner.com), the second largest clear aligner supplier by revenue, announced today that its revenue grew 42.9% to US$230.7 million and net profit grew 79.6% to $25.5 million for the six months ending June 30, 2026. Angel’s business in Europe and North America crossed into profitability ahead of plan while the business in Chinese mainland delivered market share gains well above expectations. Doctors and staff in every region report that they are increasingly selecting Angel’s solutions after experiencing more predictable outcomes, especially on complex cases, and embracing the positive culture of the company. Dr. Mark Holt D.D.S., M.S. of Holt Orthodontics in Northern California, states: “We treat over half of our patients with clear aligners and our experience with Angel’s treatment plans and clear aligners has been tremendous.” “Our main focus is to provide great service to and being a rock-solid partner for our cu
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