SOURCE: Cobalt Financial

July 08, 2005 10:00 ET

Cobalt Capital Hires Senior Vice-President of Finance and Investor Relations

SPRINGFIELD, MA -- (MARKET WIRE) -- July 8, 2005 -- Cobalt Capital Companies, LLC a vertically integrated national real estate investment, development and management firm with over 11,000 residences in 12 states under management. Cobalt specializes in revitalizing and developing undervalued residential apartment communities and condominium and hotel condo conversions particularly in Miami Beach, Florida and Houston, Texas, today announced that it has hired Thomas P. Nealon as Senior Vice President of Finance and Investor Relations. Mr. Nealon's responsibilities in the newly created position will include investor relations with current and potential investors, institutional fund-raising and overseeing the finance team.

William Foster, President of Cobalt Capital Companies, stated, "The addition of Thomas to our management team reflects our commitment to our current investors as well as our commitment to secure institutional relationships for Cobalt Capital's future expansion. We are pleased to find an executive with Thomas's mix of investor relations, financial background, and strategic planning experience who can contribute to our growth as a real estate development firm."

"The company is investing heavily in its finance team at its headquarters in Springfield, MA, as well as its office in Miami Beach, FL. The company plans to announce further expansion and development of its financial division to concentrate on strengthening communication and interaction with the equity markets."

Prior to joining Cobalt, Mr. Nealon spent six years in the investor relations field as Director of Investor Relations for companies in the biotech arena, alternative energy, and optical switching company. Mr. Nealon brings significant experience in managing expansion within companies, implementing and managing investor relation's programs, and management of multi-family real estate projects. He holds a BA in International Business and MBA in finance from Frostburg State University, Maryland.

About Cobalt Capital Companies

Cobalt Capital Companies, LLC is a vertically integrated, national real estate investment, development and management firm specializing in revitalizing and developing residential apartment communities ranging in size from 150 to 2000 residences throughout 12 states and condominium and condominium hotel conversions particularly in Miami Beach, Florida. The company is comprised of professionals who have owned, managed and developed more than 5 billion dollars worth of real estate over the past 30 years. Cobalt's headquarters is located in Springfield, MA. Additional offices are strategically located in Miami Beach, FL, Great Neck, NY, Houston, TX and Greenville, SC. We are dedicated to providing our investor-partners with substantial returns on their capital by unleashing the power of the commercial multi-family real estate market which has frequently out performed alternative investment markets. For more information, please visit www.cobaltcapitalco.com.

Except for the historical information contained herein, we wish to caution you that certain matters discussed in this news release constitute forward-looking statements that involve risks and uncertainties. Actual results or events could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: unfavorable conditions in the telecommunications industry and economy in general; the pursuit of strategic and financial alternatives; the commercial success of the Company's line of optical networking products; the significant cost structure required to support the Company's strategy; competition; the Company's reliance on a limited number of customers; the Company's ability to sell through distribution channels; variation in the Company's quarterly results; manufacturing and sourcing risks; product performance; conducting business internationally; current and potential litigation; intellectual property rights and disputes; stock market volatility and capital market conditions; and the other factors discussed in the Company's most recently filed Form 10-Q and the other reports filed by the Company from time to time with the Securities and Exchange Commission. There can be no assurance that any transaction or other corporate action will result from the Company's review of strategic and financial alternatives. Further, there can be no assurance concerning the success, type, form, structure, nature, results, timing, or terms and conditions of any such potential transaction, even if such an action does result from this review. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

Contact Information

  • Contact:
    Press Inquiries
    Richard Haumann
    VP of Marketing
    Cobalt Capital Companies
    413-788-9000
    Email Contact

    Investor Inquiries
    Tom Nealon
    Senior VP of Finance
    Cobalt Capital Companies
    413-788-9000
    Email Contact