Capital One has provided a $60 million loan to Rexford Industrial Realty, a publicly traded REIT, to refinance a portfolio of six industrial properties located in Simi Valley, Oxnard, Camarillo, Fullerton, Irwindale and City of Industry, CA. Capital One and Rexford have a longstanding relationship that includes a credit facility that Rexford has used to support its recent expansion.

The 100% occupied, six property portfolio totaling 900,000 square feet, has been refinanced with a two-year, interest-only, adjustable-rate term loan with three 12-month interest-only extension options. “Industrial real estate fundamentals within infill Southern California continue to be resilient due to diversified tenant demand and high barriers to new supply,” said Capital One’s Michael Sleece.

“Capital One is a valued partner in supporting Rexford’s sector-leading growth,” commented Rexford CFO Laura Clark. “Our favorable access to capital enables Rexford to capitalize on accretive internal and external value creation opportunities.”