Rexford Industrial pays $661m for seven industrial properties

Rexford Industrial Realty has acquired seven industrial properties for $660.9 million.

“These investments exemplify Rexford Industrial's ability to capitalize upon its proprietary market access and unique regional sharpshooter advantage within infill Southern California, the nation's highest-demand and lowest-vacancy industrial market. Our $1.6 billion of investments year-to-date, of which approximately 85 percent were acquired through off-market or lightly marked transactions, are expected to generate substantially above-market stabilized returns on investment and drive accretive cash flow growth,” said Howard Schwimmer and Michael Frankel, co-CEOs.

“Our pipeline of over $500 million of additional investments under contract or accepted offer, combined with our low-leverage balance sheet and significant internal growth initiatives, create a deep well of value-creation opportunities positioned to drive long-term value accretion for our shareholders.”

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