Location:
Industrial/Office
Investment Opportunity
Suburban Chicago, IL
Buyer:
Cobalt Capital Partners
Seller:
First Industrial Realty Trust
Date of Sale:
03/01/08
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TRANSACTION SUMMARY:
The subject properties were originally marketed as part of a larger portfolio. As a result of a severe tightening in the credit markets, many of the logical buyers passed on the larger portfolio due to a lack of reasonable available debt.
Converse Capital was able to identify a capable all-cash buyer to close the transaction in the first quarter at a price that allowed the seller to meet their elevated internal pricing requirements.
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