Welcome to Cobalt

The 1.8 million sf. mixed-use Town Center at Virginia Beach. Development lead, leasing and management by Divaris Real Estate, Inc.

Retail Experienced

Cobalt is a fully integrated affiliate of Divaris Real Estate, Inc., a company with a continuous forty-one year successful history as a developer, re-positioning expert, and specialist in leasing and managing retail properties. The principals are recognized industry leaders, averaging more than thirty years of experience including senior roles with the most prominent operating companies and institutional capital managers. We have ready access to deal flow through both broker and direct owner networks. Our skills cover all areas of the strategy and business plan execution. We have proven performance as excellent stewards of institutional capital. The cumulative experience of the team exceeds more than 200 million sf. of operating shopping center space valued at more than $35 billion.

Retail Property
Experts

Cumulative experience of the team is outstanding. We have leased and managed more
than 200 million sf. and directed the successful deployment of more than $5 billion in development capital.

Fully Integrated Management

Accounting and software systems in place with 26 million sf. under management.
Excellent internal leasing team and access to national broker networks for specialized needs.

Significant Pipeline for Transactions

The principals have long tenured relationships with owner/operators for direct
transactions as well as deep relationships with national and regional leasing and
selling broker networks.

41 Year Established Track Record

Sponsor has continuously operated for more than 41 years. Most of the principals have worked together, many for twenty years or longer.

The Investment Opportunity

The Premium Property Blended Strategy

Our Premium Property Blended Strategy provides an enhanced return opportunity by combining an approximate 75% blend of Core properties with 25% Value-Add properties to drive a net investor return of 12% or higher.  The platform employs low leverage to maximum 40% initial LTC for the Core properties with a stabilized 40% or lower LTV target for the Value-Add component.  The blended return is expected to provide a minimum 6% current return, with the current return component making-up 50% or more of the total return.

Community Centers: 150,000 to 500,000 sf.
Lifestyle Centers: 150,000 to 500,000 sf.
Grocery Anchored: 60,000 to 150,000 sf.
Urban and Ex-Urban Retail: 20,000 to 150,000 sf.
$35 Billion
of Properties managed
$5 Billion
of new Development and redevelopment Capital
200
Million SF
Leased
and Managed

Our Key Investment Parameters

Invest in Dynamic Markets

Focused on large US markets with more than 200,000 persons and other selective dynamic markets with strong growth forecasts.

High Quality
Assets

Invest only into institutional quality assets or properties that will become institutional quality after repositioning is completed.

Solid Trade Area Fundamentals

Looking for well-balanced property fundamentals including strong competitive position, retailer demand and rent growth.

Use Conservative Leverage

Initial Leverage of 40% or lower for Core properties and stabilized leverage of less than 40% for Value-add properties.