Cobalt Capital Partners Acquires New Jersey Industrial Property

May 26, 2004 - Irving, TX

Cobalt Capital Partners, L.P., together with USAA Real Estate Company, has acquired a 40,000 square foot industrial building located in Burlington County , New Jersey . 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. 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 and provides acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial and hotel properties as well as investments in real estate operating companies.

For information on Cobalt Capital Partners or to submit an investment for review, please visit our website www.cobaltcapitalpartners.com