News

Private Real Estate Investment Firm, Cohen Asset Management, Inc. Announces the Acquisition of a Fully Occupied Two Building Portfolio of Washington DC Industrial Assets  
Los Angeles, California (January 7, 2011)
 
Cohen Asset Management, Inc. announced the acquisition of two industrial properties located in the Steeplechase 95 International Business Park in the Prince Georges County, Maryland submarket of Washington DC.  The institutional quality properties are located on two separate legal parcels at 1100 and 1101 Hampton Park Boulevard and total approximately 190,000 square feet. Within minutes of the Capital Beltway and with direct access for users serving the District of Columbia, the infill location is the premier choice for many industries operating in the Washington DC Area.
 
Cohen Asset Management, a private real estate investment firm, acted as an advisor on behalf of INVESCO Real Estate which acquired the “Steeplechase” properties on behalf of one of their institutional funds directly from the developer of the two year old assets. The investment provides INVESCO and its investors with 100% leased institutional quality properties occupied by predominantly credit tenants and excellent cash flow from the inception of ownership. This opportunity is reflective of an acquisition style that Cohen has excelled at in the past. The transaction continues Cohen’s track record of sourcing opportunities through its bi-coastal offices and furthers Cohen’s standing as a national operator with local presence and close broker relationships. The purchase is one of many transactions that Cohen has negotiated over the past twelve months.
 
 “We are very pleased to have identified this industrial opportunity for INVESCO which we believe provides the best of all worlds for our investors - 100% occupancy and immediate cash flow from a predominantly credit tenant roster, no near term rollover risk, state of the art institutional quality industrial buildings and an acquisition at a discount to replacement cost.” commented Brandon Delf, CIO and Executive Vice President of Cohen Asset Management. 
 
Howard Freeman, Senior Vice President of Investments, said “This deal was sourced through our East Coast office and is reflective of the detailed ‘on the ground’ knowledge and strong relationships we have in the Washington DC marketplace to identify high-quality investment opportunities and execute our strategy on behalf of our investors and clients. Our appreciation goes out to Gerry Trainor, Mark Glagola and Jim Darby of Transwestern Commercial Services who were instrumental in working with us to complete this core investment.”
 
The transaction is in line with Cohen’s industrial core strategy pursued on behalf of its select institutional client base which targets stabilized, high quality, infill located property populated with credit tenants and providing immediate cash flow. General criteria for Cohen’s core strategy include infill locations in major metropolitan markets, significant attribution of return from income with cash flow representing approximately 70% of the total return attribution during the life of the investment, and minimal use of leverage (maximum 30% leverage)..
 
 
About Cohen Asset Management
Cohen Asset Management, Inc. is a private commercial and industrial real estate investment firm. The firm’s relationships extend to high net worth individuals, institutional investors and domestic business entities. The private real estate investment firm is an active operator and investor of commercial and industrial real estate assets and has a well-established reputation as a value added investor focusing on commercial and industrial real estate opportunities that are inefficiently priced due to a variety of circumstances such as vacancies, rollover risk, sub-optimal management, inefficient current use, deferred maintenance, long-term undervalued leases or other unfavorable property and market conditions.