Le Lézard
Classified in: Business
Subject: RLE

Rexford Industrial Announces $137.6 Million Of Transaction Activity

LOS ANGELES, Nov. 22, 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 five industrial properties for an aggregate purchase price of $125.9 million. The company also announced the disposition of one property for $11.7 million. The acquisitions were funded using a combination of 1031 disposition proceeds and cash on hand.

"These investments demonstrate Rexford's ability to leverage our value-add expertise and proprietary access to the nation's strongest and most highly-valued industrial market to generate substantially above-market cash yields and return on investment," said Howard Schwimmer and Michael Frankel, Co-Chief Executive Officers of the Company. "Our $1.4 billion of investments completed year-to-date within infill Southern California are indicative of Rexford's growth opportunity as we deepen our market penetration within the nation's highest-barrier industrial market. With over $300 million of acquisitions under contract or accepted offer, our accretive internal and external growth, supported by our low-leverage, fortress-like balance sheet, enable us to continue to generate favorable cash-flow growth and long-term value for our stakeholders." 

In October and November, the Company acquired:

In November, the Company disposed of the following property:

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 283 properties with approximately 35.3 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.

Investor Relations: 
Stephen Swett  
424 256 2153 ext. 401 

SOURCE Rexford Industrial Realty, Inc.

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