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Chicago & Midwest  + Greater Chicagoland  + Industrial  | 
Westmount Realty Capital and an Ares Management fund have recapitalized a 51-property industrial portfolio located mainly in Chicagoland

Westmount, Ares Fund Recapitalize 6M-SF Industrial Portfolio

Westmount Realty Capital is partnering with a fund managed by the Real Estate Group of Ares Management Corporation 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 from a Partners Group- Westmount joint venture. Deal terms weren’t disclosed. 

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. 

“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. Michael Caprile with CBRE and Josh McArtor with Eastdil handled the transaction on behalf of the seller. 

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WestmountCBRE's CaprileEastdil's McArtor

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition