Le Lézard
Classified in: Business
Subject: RLE

Rexford Industrial Announces $194.4 Million Of Investment Activity


LOS ANGELES, Aug. 23, 2021 /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 two industrial properties comprising 629,224 square feet of improvements across eight industrial buildings for an aggregate purchase price of $194.4 million. The acquisitions were funded using cash on hand. 

"These investments, acquired through off-market transactions, demonstrate the company's programmatic and proprietary approach to identifying exceptionally well-located, off-market investment opportunities with substantial, above-market return on investment and cash flow growth within infill Southern California, the nation's lowest-supply and highest-demand industrial market," said Howard Schwimmer and Michael Frankel, Co-Chief Executive Officers of the Company. "Our local sharpshooter focus continues to generate favorable access to high-quality industrial property investments within a market that ranks as the fourth largest industrial market in the world, behind only the entire country-wide markets of the United States, China and Germany. With $779 million of acquisitions completed year-to-date, plus an additional $600 million of new investments under contract or accepted offer, we are well positioned to drive superior shareholder value creation through accretive internal and external growth."

In August, the Company acquired the following properties through off-market transactions:

About Rexford Industrial

Rexford Industrial, a real estate investment trust focused on creating value by investing in and operating industrial properties throughout Southern California infill markets, owns 273 properties with approximately 33.8 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

For additional information, visit www.rexfordindustrial.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2020, and the Company's most recent Form 10-Q. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

Contact:
Investor Relations:
Stephen Swett
424 256 2153 ext. 401
[email protected]

SOURCE Rexford Industrial Realty, Inc.


These press releases may also interest you

at 16:41
In celebration of Trans Day of Visibility, Equalpride is proud to announce a partnership with TransLash Media for the release of a short film series on Advocate Channel, ARTISTIC LEGACIES....

at 16:40
Pomerantz LLP is investigating claims on behalf of investors of DraftKings Inc. ("DraftKings" or the "Company") . Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980....

at 16:35
Discover Financial Services plans to report its First quarter 2024 results after the market closes on Wednesday, April 17, 2024. The earnings release will be available through Discover's Investor Relations website at...

at 16:35
On Monday, April 29, 2024 at approximately 8:30 a.m. Eastern Time, Franklin Resources, Inc. (the "Company") [NYSE:BEN] will release its second quarter operating results. A written commentary on the results will also be available via...

at 16:35
Travel + Leisure Co. announced today it will release first quarter 2024 financial results on Wednesday, April 24, 2024, before the market opens, followed by a conference call at 8:00 a.m. EDT. Michael D. Brown, President and CEO, and Mike Hug, CFO,...

at 16:35
Aptiv PLC , will release its first quarter 2024 financial results on May 2, 2024 and will hold an investor call the same day at 8:00 a.m. EDT. The call will be hosted by Aptiv's Chairman and Chief Executive Officer, Kevin Clark, and Chief Financial...



News published on and distributed by: