Real Estate

Rexford Industrial Acquires Two Southern California Industrial Properties For $339.2M

by benzinga.com posted 6months ago 46 views
LOS ANGELES, Nov. 18, 2020 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE:REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located in Southern California infill markets, today announced the acquisition of a four-building industrial complex and a three-tenant industrial property for $339.2 million. The acquisitions were funded using a combination of cash on hand, 1031 exchange proceeds from prior dispositions, assumption of existing debt and operating partnership units. "These investments contribute towards the accretive growth of our portfolio within the highly sought-after Southern California industrial market," stated Howard Schwimmer and Michael Frankel, Co-Chief Executive Officers of the Company.

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