CIT CAPITAL, BLUE WATER SELL 775,000-SQUARE-FOOT PORTFOLIO IN MICHIGAN AND

MICHIGAN AND OHIO — CIT Capital and Blue Water Automotive Inc.'s Creditors' Trust has sold a 775,000-square-foot, nine-building industrial portfolio in Michigan and Ohio. Several industrial manufacturing firms purchased the properties independently, which will utilize the buildings for a variety of manufacturing and distribution operations. The properties include a 140,000-square-foot building in Port Huron, Mich.; a 136,744-square-foot building in St. Clair, Mich.; a 133,000-square-foot building in St. Clair; a 70,280-square-foot building in St. Clair; a 63,550-square-foot building in Caro, Mich.; a 59,500-square-foot building in Wauseon, Ohio; a 56,296-square-foot building in Marysville, Mich.; a 54,166-square-foot building in Lexington, Mich.; and a 44,120-square-foot building Marysville. Rob Gemerchak, Andrew Harris and Bob Boyle of Binswanger represented the sellers in the transaction.