Cobalt Capital Partners Expands Into Los Angeles Market

IRVING, Texas, July 12, 2011 /PRNewswire/ -- Cobalt Capital Partners, L.P., through its Cobalt Industrial REIT III affiliate, has acquired Dupont Business Center located in Ontario, California. This 111,890 square foot acquisition is Cobalt's first investment in the Los Angeles market.

Located in the Inland Empire Submarket, Dupont Business Center was built in 2001. The property consists of two vacant 26-foot clear buildings with dock-high and grade-level loading. Cobalt plans to reconfigure and reposition this property for multiple tenant suites ranging in size from 15,000 to 111,890 sq. ft.  

"This acquisition represents Cobalt's initial entrance into the Los Angeles market.  As a vacant property, it fits well with our value-add strategy.  Moreover, its in-fill location in the western Inland Empire submarket, makes it an attractive asset for our typical tenant customer," says Lew Friedland, Managing Partner of Cobalt Capital Partners.  "We are continuing to look for additional investment opportunities in LA and plan to expand our footprint in that market over time."

About Cobalt Capital Partners

Cobalt Capital Partners, a Dallas-based private equity firm, acquires, manages and develops light industrial properties in major metropolitan markets throughout the United States. Cobalt Industrial REIT III is a private REIT advised by Cobalt Capital Partners. Across its national platform, Cobalt Capital Partners entities own over 28 million square feet of light industrial space in 17 major metropolitan markets.

For more 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: [email protected]
www.cobaltcapitalpartners.com

SOURCE Cobalt Capital Partners, L.P.