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California  + Los Angeles  + Industrial  | 
KKR is expanding into ground-up industrial development through its wholly owned Alpha Industrial Properties arm

Rexford Boosts 2020 Acquisitions to $1.22B with $103M Portfolio Deal

Los Angeles-based Rexford Industrial Realty, Inc. reports it added $1.22 billion in industrial properties to its portfolio in 2020, representing five million square feet. The latest transaction was a four-building SoCal industrial portfolio and an outdoor industrial storage property acquired from an undisclosed seller for $103.1 million. The deals were funded using newly issued operating partnership units and cash on hand.

Rexford’s Michael Frankel says, “This portfolio acquisition provided the seller with the unique opportunity to contribute its property to Rexford through a tax-efficient UPREIT transaction.”

The off-market portfolio transaction encompassed four 100%-leased high quality, modern single-tenant industrial properties totaling 414,744 square feet on 25 acres in the San Fernando Valley, Mid-Counties and Inland Empire West submarkets.

The outdoor industrial storage property at 1235 S. Lewis St. in Anaheim was acquired at a favorable land cost basis, with the potential to construct a new, Class A distribution facility designed to serve unmet last-mile logistics demand, notes Frankel.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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