DALLAS, TX – HFF announced today that it has closed the sale of a 14-building, 1.4 million-square-foot industrial portfolio in Dallas, Texas on behalf of Cobalt Capital Partners, L.P., advisor to Cobalt Industrial REIT. The portfolio was 96 percent leased to 28 quality tenants with an average remaining lease term of six years. The buildings were purchased between 2003 and 2007 and remained well-leased during Cobalt’s ownership.
“This portfolio of assets was well-leased to a group of financially strong tenants, which made it attractive to market the buildings for sale,” said Lewis D. Friedland, Cobalt’s managing partner. “Our asset management and property management teams did a great job of creating value through leasing activity and tenant retention, which maximized the value for our investors.”
HFF’s Randy Baird, Jud Clements and Robby Rieke exclusively represented Cobalt in the transaction.
Cobalt Capital Partners, a Dallas-based private equity firm invests in light industrial property in major metropolitan markets throughout the United States. Cobalt Industrial REIT is a private REIT advised by Cobalt Capital Partners. Across its national platform, Cobalt Capital Partners entities own more than 29 million square feet of light industrial space in 17 major metropolitan markets. For information on Cobalt Capital Partners or to submit an investment for review, please visit our website www.cobaltcapitalpartners.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information, please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.