Investment groups tied to Los Angeles-based investment management company Ares Management Corp. have acquired seven industrial properties in the Milwaukee area and Kenosha for $59.68 million, according to state records. The sellers are affiliates of Dallas-based Westmount Realty Capital LLC. Westmount Realty Capital founding partner Stephen Kanoff was a panelist at the 2015 BizTimes Milwaukee Commercial Real Estate and Development Conference. The building that commanded the highest price was 5201-5401 W. Donges Bay Road, Mequon. It went for $22.2 million. The warehouse is used by two home products suppliers: Mequon-based Design House and Philadelphia-based Almo Corp. Other properties include:
6736-6750 W. Washington St., West Allis ($9.1 million)
7515 N. 81st St., Milwaukee ($8.7 million)
7025 W. Parkland Court, Milwaukee ($5.2 million)
5601 95th Ave., Kenosha ($1.93 million)
5517 95th Ave., Kenosha ($1.35 million)
Other tenants of the various warehouse buildings include a Children's Wisconsin logistics warehouse, Gustave A. Larson Co., Valspar and Wacker Neuson. Ares Management did not immediately respond to a request for comment.
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