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
Inspirit Capital to Acquire Kaplan Languages Group20.4.2026 17:15:00 CEST | Press release
Inspirit Capital, a specialist investor in corporate carve-outs, is pleased to announce its plans to acquire KLG Kaplan Languages Group (“KLG”), a leading global language education platform, from Kaplan. All conditions for the sale have been met, and completion is due to take place on 1 May. KLG comprises Kaplan International Languages, Alpadia Language Schools, Azurlingua, and ESL Education. Since 2006, KLG has provided high-quality language education, supporting students in achieving their language goals through academic excellence, cultural immersion, and life-changing experiences. Inspirit Capital will support KLG in delivering on its ambitious growth plans, whilst continuing its fundamental mission to transform lives through language education. This next phase of ownership will also see the development of a refreshed standalone brand identity for KLG, with further announcements to follow on this in due course. Paul Youens, Investment Director, Inspirit Capital: “KLG has built a st
Cleaner by Design: SaniSure Introduces PETG PharmaTainer™ Ultra-Clean Bottles & Carboys20.4.2026 16:00:00 CEST | Press release
Industry’s most widely adopted PETG material meets industry-leading cleanliness, compliance, and RNase/DNase-free validation—now available across the full bioprocessing workflow. SaniSure® today announced the launch of PETG PharmaTainer™, a new line of bioprocessing bottles and carboys combining widely accepted, medical-grade Eastman Eastar® PETG 6763 resin (DMF#9987) with SaniSure’s proprietary process and advanced automation. This launch expands SaniSure’s established PharmaTainer® platform—extending its proven cleanliness, robustness, and performance attributes to include industry-standard PETG alongside its existing PET and PC offerings. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260420641769/en/ PETG PharmaTainer™ bottles and carboys—RNase/DNase-free, ultra-clean, ready-to-use containers for bioprocessing applications. Available in volumes from 10 mL stability vials to 10 L carboys — in sterile (gamma-irradiated) an
Leaders of Dubai-Based Unicorns Hail City as Global Innovation Hub Shaping Future Technology and Driving the Digital Economy20.4.2026 15:08:00 CEST | Press release
Leaders of Dubai-based unicorn companies have reaffirmed the emirate’s status as a global hub for digital innovation and technology-led growth. The senior executives highlighted Dubai’s forward-looking regulatory environment, advanced infrastructure, and ability to attract international talent as key factors strengthening its appeal for high-growth digital businesses. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260420503062/en/ Leaders of Dubai-based unicorns hail city as global innovation hub shaping future technology and driving the digital economy (Photo: AETOSWire) They noted that Dubai has evolved into a strategic launchpad for ambitious companies, offering an agile business environment that supports innovation and enables expansion into regional and international markets. The business leaders also praised the strong alignment between the public and private sectors within Dubai’s digital ecosystem, supported by Dubai
Capcom’s All-New IP PRAGMATA Surpasses One Million Units Sold in Two Days!20.4.2026 15:00:00 CEST | Press release
– Highly innovative and original gameplay earns strong reception from players around the globe – Capcom Co., Ltd. (TOKYO:9697) today announced that worldwide sales of PRAGMATA, the company’s all-new IP released on April 17, 2026*, have surpassed one million units. PRAGMATA is a science-fiction action-adventure game that depicts the journey of Hugh Williams and Diana, an android girl, in a near-future lunar world. A completely new IP, PRAGMATA was developed primarily by a team of younger Capcom developers, who created an innovative gameplay experience by fusing action gameplay with puzzle elements set within a distinctive world ruled over by artificial intelligence. In the absence of an established fan base or preexisting brand recognition, Capcom implemented a range of marketing initiatives—beginning with the early release of a playable demo—to communicate the unique features of the game to a wider audience. In addition, in line with the company’s multi-platform strategy, Capcom broade
Following Oral Presentation of Phase I Data at AACR 2026, Debiopharm Announces FDA Fast Track Designation for Lunresertib in Combination With Zedoresertib for Genomic-Defined Platinum-Resistant Ovarian Cancer20.4.2026 14:30:00 CEST | Press release
Debiopharm (www.debiopharm.com), a privately-owned, Swiss-based biopharmaceutical company aiming to establish tomorrow’s standard of care to cure cancer and infectious diseases, today announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to the combination of its PKMYT1 inhibitor, lunresertib (Debio2513), and its WEE1 inhibitor, zedoresertib (Debio 0123). The designation is for the treatment of adult patients with CCNE1 amplified, or a deleterious mutation in either FBXW7 or PPP2R1A, platinum-resistant/refractory ovarian cancer. The FDA’s Fast Track program is designed to facilitate the development and expedite the review of new drugs intended to treat serious conditions and fill an unmet medical need. Programs granted Fast Track designation benefit from more frequent communication with the FDA and, if relevant criteria are met, may be eligible for Priority Review and Accelerated Approval of a New Drug Application (NDA). Momentum Following AACR O
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