Rexford Industrial Realty has acquired a 10-building Southern California industrial property portfolio for $203.2 million, including assumed debt, through a combination of cash and shares.

The portfolio consists of three single-tenant and seven multi-tenant industrial properties containing a total of 867,242 square feet on 43.06 acres of land. The portfolio is currently 87.7% occupied. The properties are located in four of the company’s core infill Southern California markets, including Los Angeles’ South Bay and Mid-Counties submarkets, the Inland Empire – West, and Orange County.

According to Rexford’s co-CEO’s Howard Schwimmer and Michael Frankel,” …this investment provides an above-market cash yield as well as the potential for favorable cash flow growth into future periods through a combination of leasing and value-add enhancements. “Located within some of the most supply-constrained and best performing submarkets within infill Southern California, these assets represent a strategic, accretive expansion within our core target markets.”

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