September 27, 2007

Cobalt Capital Partners Expands Nationwide

Irving, TX – Cobalt Capital Partners, L.P., through its Cobalt Industrial REIT affiliate, has acquired the Lincoln National Portfolio, a 2,203,901 square foot thirteen-building light industrial property located Nationwide. Lincoln is comprised of thirteen 94% leased multi-tenant buildings thus increasing Cobalt’s National portfolio to approximately 17.8 million square feet. The Portfolio provided Cobalt’s first acquisition in Denver, Colorado and further accumulation of properties in Chicago, Atlanta, Houston, Phoenix and Dallas. The Portfolio also includes one smaller building in Tucson.

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 19.5 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