"We believe that Cabot is one of the better operators in the industrial sector, with its proven track record of operating and investing in industrial properties," GE Capital CEO Michael Pralle said in unveiling the union. "This strategic alliance between GE Capital and Cabot will enable us to pursue opportunities in an area we believe will provide strong returns given the continued growth of the US economy."

Cabot President Robert Patterson says the partnership will primarily acquire properties, with GE committing 80% of the equity, or $100 million, and Cabot the remaining 20% of the equity, or $25 million. The balance will be funded by debt for a target leverage rate of 50%.

Patterson adds that the focus will be on workspace and multi-tenanted facilities, similar to the Atlanta assets, which have 15 tenants in 334,000 sf of space. Entering into the joint venture will allow Cabot to re-deploy capital from stabilized assets into development and other joint venture programs, says Cabot CFO Franz Colloredo-Mansfeld.