9/26/2007

Cobalt Capital's 12 million square foot portfolio on the market

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A fund backed by USAA Real Estate is placing a 12.6 million square foot industrial portfolio on the sales block.

The portfolio is controlled by Irving, Texas-based Cobalt Capital Partners and is worth approximately $825 million.

CB Richard Ellis is marketing the portfolio with four brokers each handling inquiries in their home regions: Jack Fraker in Dallas, Chris Riley in Atlanta, Michael Hines in Philadelphia and Mike Caprile in Chicago. Fraker is overseeing the listing.

The portfolio contains 142 distribution, warehouse and light-assembly properties spanning nine markets. The average occupancy rate of the properties is 94 percent with 392 tenants.

USAA Realty is a real estate management, acquisition and development company specializing in office, industrial, retail, land and hotel properties.

The portfolio contains:
- Dallas/Fort Worth: 3 million square feet

- Atlanta: 2.4 million square feet

- Philadelphia: 2.2 million square feet

- Kansas City: 1.7 million square feet

- Chicago: 1.3 million square feet

- Houston: 1 million square feet

- Tampa: 441,000 square feet

- St. Louis: 250,000 square feet

- Austin: 236,000 square feet

Size: 12.6 million square feet

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Filed Under: Industrial

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