"We believe that Cabot is one of the better operators in theindustrial sector, with its proven track record of operating andinvesting in industrial properties," GE Capital CEO Michael Prallesaid in unveiling the union. "This strategic alliance between GECapital and Cabot will enable us to pursue opportunities in an areawe believe will provide strong returns given the continued growthof the US economy."

Cabot President Robert Patterson says the partnership willprimarily acquire properties, with GE committing 80% of the equity,or $100 million, and Cabot the remaining 20% of the equity, or $25million. The balance will be funded by debt for a target leveragerate of 50%.

Patterson adds that the focus will be on workspace andmulti-tenanted facilities, similar to the Atlanta assets, whichhave 15 tenants in 334,000 sf of space. Entering into the jointventure will allow Cabot to re-deploy capital from stabilizedassets into development and other joint venture programs, saysCabot CFO Franz Colloredo-Mansfeld.