(Read more on the industrial market.)
DALLAS-In simultaneous closings, Cobalt Capital Partners has grabbed 3.2 million sf of industrial space in eight cities in three unrelated transactions. The $160-million pickup came from the $410-million equity coffer of Cobalt REIT II.
Lewis D. Friedland, managing partner of Dallas-based Cobalt, tells GlobeSt.com that REIT II has acquired 21 buildings of 90%-leased industrial space in its homeport, Atlanta, Chicago, Denver, Houston, Minneapolis, Phoenix and Tucson. In winning the marketed packages, Cobalt REIT II bought 567,005 sf in Dallas from San Francisco-based Rreef North America, 2.2 million sf in several cities from Dallas-headquartered Lincoln Property Co. and roughly 400,000 sf from a handful of local owners.
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