February 4, 2004
Cobalt Capital Partners Acquires Pennsylvania Industrial Property
IRVING, TX – Cobalt Capital Partners, L.P., together with USAA Real Estate Company, has acquired a 70,361 square foot, multi-tenanted industrial building located in suburban Philadelphia. The property, 1900 Frost Rd., is located in the 3.5 million square foot Keystone Industrial Park and is 100% leased to eight tenants ranging in size from 6,000 to 17,000 square feet. Cobalt Capital Partners, a Dallas-based private equity firm, is an active buyer of light industrial and other commercial properties in major markets throughout the U.S.
“The 1900 Frost property is a well-located, multi-tenanted light industrial building and complements our existing Philadelphia/Southern New Jersey portfolio,” said Lewis D. Friedland, Cobalt’s Managing Partner.
Cobalt Capital Partners is a real estate private equity firm based in Dallas. The firm invests in light industrial and suburban office properties nationally.
USAA Real Estate Company has approximately $3.0 billion in assets under management and provides acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial and hotel properties as well as investments in real estate operating companies.
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 1100, Irving, TX 75038
Tel: (972) 893-7000 Facsimile: (972) 893-7001
E-mail: lew.friedland@cobaltcapitalpartners.com