July 13, 2007

Cobalt Capital Partners acquires Dallas industrial property

Irving, TX – Cobalt Capital Partners, L.P., through its Cobalt Industrial REIT affiliate, has acquired a 116,128 square foot building located within the Northeast submarket of Dallas, TX. The property is 100% leased to Flanders Precisionaire Corporation through June 2026. The acquisition increases Cobalt’s Dallas portfolio to approximately 3.5 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 15.5 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