April 25, 2006

Cobalt Capital Partners expands in Atlanta

Irving, TX – Cobalt Capital Partners, L.P., through its Cobalt Industrial REIT affiliate, has acquired 4258 Communications Drive, a 57,000 square foot, single tenant building located in the Northeast submarket of Atlanta, GA. This acquisition increases Cobalt’s Atlanta MSA portfolio to over 1.9 million square feet.

Cobalt Capital Partners, a Dallas-based private equity firm, acquires, manages and develops light industrial properties in major metropolitan markets throughout the United States. The Cobalt Industrial REIT is a private REIT advised by Cobalt Capital Partners. Across its national platform, the Cobalt Industrial REIT owns more than 5.2 million square feet of light industrial space.

For information on Cobalt Capital Partners or to submit an investment for review, please visit our website www.cobaltcapitalpartners.com or contact:

Lewis D. Friedland
Managing Partner
Cobalt Capital Partners, L.P.
5605 N. MacArthur Blvd., Suite 350, Irving, TX 75038
Tel: (972) 893-7000 Facsimile: (972) 893-7001
E-mail: lew.friedland@cobaltcapitalpartners.com