Cobalt REIT II Picks Up 342,845 SF in Two Deals

[IMGCAP(1)]DALLAS-Armed with more than $1 billion of buying clout, Cobalt Capital Partners has roped off two more industrial properties in Dallas/Fort Worth. The double deal has bagged 342,845 sf in three institutional-grade buildings for Cobalt REIT II.

The REIT’s new deeds are a 100,000-sf office/warehouse at 1135 W. Trinity Mills Rd. and 91,000-sf building at 2425 Carter Dr., both in Carrollton; and 151,845-sf structure at 1011 Royal Lane, situated on ground-leased land at Dallas/Fort Worth International Airport. The real estate is all class A, with only 46,000 sf left to fill. Commonfund Realty of Wilton, CT sold the Carrollton portfolio and Dallas-based Bandera Ventures Ltd. passed the Royal Lane deed in the back-to-back closings.

In turning over the two-asset portfolio, the Commonfund has sold the last of its industrial holdings in the metroplex. The fund started the disposition in January with the hand-off of a 97,079-sf building on 5.9 acres at 2525 Carter Dr. to Fong Kai USA Inc. The fund also has 24 acres along Ranch Trail Road in Las Colinas on the market with its long-time broker, Tom Smolik, principal of TIG Real Estate Services Inc. in Dallas, and for now, plans to hold fast to an office building in Turtle Creek.