Our Company.

Cabot was formed in 1986 as the investment advisor affiliate of Cabot, Cabot & Forbes, a nationally diversified real estate development company.

In 1990, management orchestrated a buyout of the firm and Cabot Partners Limited Partnership ("Cabot Partners") was formed to carry on its industrial expertise and investment programs as an independent investment advisor. Cabot Partners achieved superior performance relative to NCREIF benchmarks during an extremely difficult period in the real estate investment markets in the early 1990s. The firm became a leading real estate advisory firm noted for its exclusive focus on the industrial sector.

In 1998, certain Cabot clients and other investors contributed assets in an initial public offering to create the Cabot REIT, one of the only successful roll-ups of institutional separate accounts. Beginning with the formation of the Cabot REIT, the Cabot team had the ability to invest on a full discretionary basis. Between 1998 and 2001, the Cabot REIT completed 132 acquisitions and developments representing total invested capital of $1.2 billion and grew total market capitalization to $1.8 billion. In December 2001, the Cabot REIT was sold to an affiliate of California Public Employees' Retirement System in an all cash transaction valued at $2.1 billion. From IPO to the sale, Cabot was the top performing national industrial REIT, outperforming the S&P and Dow Jones indices during this period.

In 2002, Cabot Properties, Inc. was formed to build on Cabot's track record in the industrial property business in a private equity format. Over the course of 2002 and 2003, Cabot raised $420 million from institutional investors to form Cabot Industrial Value Fund I. Through May 2004, Fund I closed on 51 transactions in 12 markets throughout the United States.

In 2005, Cabot sold Cabot Industrial Value Fund I to Dividend Capital Trust for $695 million. This transaction demonstrated Cabot's ability to rapidly build an institutional quality portfolio and achieve a sale at a premium price to a strategic buyer. Cabot Industrial Value Fund II is established in July with $450 million in equity.

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