ATLANTA-Cobalt Capital Partners L.P. has acquired a total of five industrial buildings here for approximately $27 million.
The Irving, TX-based firm acquired industrial buildings totaling about 660,000 sf., according to a report in the Atlanta Business Chronicle. The firm paid $19 million for four buildings at the Woodlands at Riverside and $7.9 million for a Hamilton Mill property in Buford, according to Databank Inc., an Atlanta-based firm that tracks commercial real estate sales. The portfolio is 91% leased.
“This acquisition adds five high-quality, well-located properties to our Atlanta light industrial portfolio,” said Lewis D. Friedland, managing partner of Cobalt. “Cobalt now owns over 7 million sf in 80 buildings throughout Atlanta’s major submarkets. This scale and market concentration provides attractive expansion opportunities for our over 190 tenants in Atlanta.”
Chris Reilly, Frank Fallon and Brian Budnick represented the seller in the transaction. See story in the Atlanta Business Chronicle.