December 19. 2005

Cobalt Capital Partners Expands in Dallas

IRVING, TX – Cobalt Capital Partners, L.P., together with USAA Real Estate Company, has acquired a 356,855 square foot industrial property located in the north Dallas industrial submarket. The property, 2115 Beltline Road, is 100% leased to three tenants. 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 2115 Beltline Road property is well-located in the north Dallas industrial submarket. This property, 100% leased to several national and international tenants, is an attractive addition to our Dallas light industrial 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 other commercial 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 350, Irving, TX 75038
Tel: (972) 893-7000 Facsimile: (972) 893-7001
E-mail: lew.friedland@cobaltcapitalpartners.com