Rexford Industrial spends $189m on new assets
Transactions - JUNE 25, 2021

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Rexford Industrial spends $189m on new assets

by Andrea Zander

Rexford Industrial Realty has purchased five industrial properties comprising 660,254 square feet of improvements on 28.8 acres of land for an aggregate purchase price of $188.9 million. The acquisitions were funded using a combination of cash-on-hand and proceeds from the company's previously executed forward equity offerings.

"Rexford Industrial continues to leverage our proprietary access to the nation's most highly sought-after industrial property market within infill Southern California. Unprecedented tenant demand continues to intensify, driven by the post-pandemic economic resurgence and ecommerce-related impacts that disproportionately benefit our last-mile, Southern California industrial market. With infill Southern California occupancy near full capacity amidst a deep, incurable supply-demand imbalance, we believe these investments are well-positioned to drive favorable cash flow growth as we execute our value-creation strategies," stated Howard Schwimmer and Michae

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