Westmount Realty Capital Enters Milwaukee
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After entering the Chicago market this time last year with a 1.5M SF industrial portfolio buy, Dallas-based Westmount Realty Capital (CEO Cliff Booth, pictured) is traveling an hour north to Milwaukee. The industrial investor bought a 10-building, 1.7M SF portfolio of Milwaukee area industrial (80% occupied) from Centerpoint Properties Trust, the Milwaukee Business Journal reports. The firm views Milwaukee as a well-kept secret of sorts, off many institutional radar screens with the benefits of proximity to Chicago and its creative and business-friendly government. Similar to its Chicago holdings, Westmount has a fairly short time horizon and plans millions in upgrades, along with rolling and adding leases an higher rental rates.