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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
- ◦Sale/Acquisition


