Rexford Industrial Realty has acquired eight industrial properties in Southern California for an aggregate purchase price of $205.2 million. The purchases were funded using cash on hand.
“These investments reflect our team’s ability to leverage its regional sharpshooter advantage and value-add expertise to deepen our presence within infill Southern California, the nation’s most sought-after industrial market, while generating substantially above-market return on investment,” stated Howard Schwimmer and Michael Frankel, co-CEOs of the company. “With over $500 million of additional investments under contract or accepted offer, plus a broad range of accretive internal growth initiatives under way, we are well positioned with a low-leverage, fortress-like balance sheet to generate significant value-creation for our stakeholders.”
The assets include:
13700–13738 Slover Ave. in Fontana, located within the Inland Empire – West submarket, through a
