Cobalt Capital Partners Acquires New Jersey Industrial Property.Business Editors IRVING, Texas--(BUSINESS WIRE)--May 26, 2004 Cobalt Capital Partners, L.P., together with USAA USAA United Services Automobile Association USAA Urban Superintendents Association of America USAA United States Achievement Academy USAA United States Arbitration Act of 1925 USAA United States Axemen's Association USAA United States Air-Table-Hockey Association Real Estate Company, has acquired a 40,000 square foot industrial building located in Burlington County, New Jersey Burlington County is a county located in the U.S. state of New Jersey. The county seat is Mount Holly. The county seat had been in Burlington, but as population moved away from the Delaware River a more central location was needed. As of 2000, the population was 423,394. . The property, 109 Connecticut Dr., is located in the Crossroads Business Park and is leased to Safety-Kleen Systems, one of the country's leading industrial service firms. 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 109 Connecticut property is located in an established business park with easy access to both the New Jersey and Pennsylvania turnpikes The Pennsylvania Turnpike is a toll highway system operated by the Pennsylvania Turnpike Commission in the state of Pennsylvania, USA. The turnpike system encompasses 532 miles (855 km) in three distinct sections. . With this acquisition, Cobalt now has over one million sq. ft. of light industrial space in the Philadelphia/Southern New Jersey market," 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 Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. and provides acquisition, build-to-suit and development services for corporate and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . The USAA portfolio consists of office, industrial and hotel properties as well as investments in real estate operating companies operating company A business that engages in transactions with outsiders. . 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 |
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