Rexford Goes Big for SoCal Industrial

Rexford Industrial Realty Inc. recently acquired five industrial properties in Southern California 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 cashflow growth and long-term value for our stakeholders.”