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
The Data Center Marketplace Is Booming, Inaugural Data Center World Europe Unites Data Center and Energy Decision-Makers and Expertsin Vienna19.10.2026 12:00:00 CEST | Press release
Data Center World Europe 2027 took place October 13-15 at VIECON – Vienna Congress & Convention Center in Austria Last week, Data Center World Europe, where data centre developers, AI and cloud providers, energy and utility operators, and solution providers come together to drive the development of an AI-ready, sustainable future, united leading operators, technologists, cloud providers, hyperscalers and energy management innovators over three days at VIECON – Vienna Congress & Convention Center in Vienna, Austria. It was co-located with the leading global network infrastructure event Network X, where data centre developers, AI and cloud providers, energy and utility operators, and solution providers come together to drive the development of an AI-ready, sustainable future, united leading operators, technologists, cloud providers, hyperscalers and energy management innovators. Tara Gibb, Senior Director, Data Center World Europe said, “The conference tackled the industry’s most urgent
BeOne Medicines Highlights Rapidly Accelerating Solid Tumor Franchise at ESMO 202619.10.2026 12:00:00 CEST | Press release
New data from four priority programs, including the GPC3x4-1BB bispecific antibody, CEA targeting ADC, CDK4 inhibitor, and brain-penetrant PRMT5 inhibitor underscore the depth of BeOne’s solid tumor pipelineMultiple TEVIMBRA abstracts reinforce breadth of evidence across lung and gastrointestinal cancers, including data in combination with ZIIHERA in HER2+ gastroesophageal cancer BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced that data from across its rapidly progressing solid tumor portfolio will be presented at the European Society for Medical Oncology (ESMO) Congress 2026 on October 23-27 in Madrid. Presentations will highlight an accelerating pipeline of differentiated targeted therapies, alongside a broad body of evidence for TEVIMBRA® (tislelizumab), including a late-breaking rapid oral presentation on TEVIMBRA in combination with ZIIHERA® (zanidatamab) in HER2+ gastroesophageal adenocarcinoma (GEA). Priority pipeline data
First and Only Ulcerative Colitis Treat-to-Target Trial Shows Treating to Disease Clearance vs. Symptomatic Remission with ENTYVIO® (vedolizumab) Prolongs Time to First Disease-Related Complication19.10.2026 11:30:00 CEST | Press release
More than half of ENTYVIO patients who met their assigned treatment target reached disease clearance (composite of corticosteroid-free symptomatic, endoscopic and histologic remission) at Week 16VERDICT is the first trial to provide macroscopic and microscopic evidence of intestinal tissue repair associated with disease clearance in largely bio-naïve patients treated with an advanced therapy Takeda (TSE:4502/NYSE:TAK) announced new data from VERDICT (NCT04259138), showing that treating adults with intravenous ENTYVIO® (vedolizumab) to achieve corticosteroid-free (CSF) disease clearance versus CSF symptomatic remission alone, resulted in a significantly longer time to first ulcerative colitis (UC)-related complication (hazard ratio 0.33 [95% confidence interval 0.17-0.67]; P=0.0014), reducing UC complication risk by nearly 70 percent. VERDICT, a Phase 4 ENTYVIO clinical trial, provides the first prospective, randomized evidence that disease clearance is an achievable and clinically rel
Boomi Acquires Elementary Data to Bring Trusted, Governed Data to the AI Era19.10.2026 11:00:00 CEST | Press release
Acquisition adds widely adopted data observability and reliability capabilities to the Boomi Enterprise Platform, giving enterprises the data quality and governance required to operationalize AI Boomi, the data activation company for AI, today announced it has acquired Elementary Data, a provider of the widely adopted data observability solution that powers every workflow and AI agent with reliable data. Following Lunar.dev, Elementary is Boomi’s latest acquisition, strengthening the Boomi Enterprise Platform with the observability, quality, governance, and discovery capabilities enterprises need to deliver trusted data for AI. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261019376249/en/ Boomi Acquires Elementary Data to Bring Trusted, Governed Data to the AI Era Key TakeawaysWhat Boomi acquired. Elementary provides unified observability, quality, governance, and discovery. Founded in 2022, Elementary began as an open-sou
Reply Earns “NVIDIA Physical AI Specialization” for Production-Ready Robotics and Digital Twins19.10.2026 10:00:00 CEST | Press release
Reply [EXM, STAR: REY] is among the first NVIDIA partners in the world to achieve the “Physical AI Specialization” within the NVIDIA Partner Network (NPN), in recognition of its expertise in developing and deploying AI-driven robotics and digital twin solutions for real-world operating environments. The specialization was awarded following a technical assessment covering a customer implementation, solution architecture, certified OpenUSD expertise and Reply’s development roadmap. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261019881053/en/ Reply is among the first NVIDIA partners in the world to achieve the “Physical AI Specialization” within the NVIDIA Partner Network (NPN), in recognition of its expertise in developing and deploying AI-driven robotics and digital twin solutions for real-world operating environments. Physical AI is becoming increasingly relevant in manufacturing, warehousing and logistics as companies mo
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