Rexford Industrial Nabs Eight Industrial Assets for $270M

Rexford Industrial Realty Inc. recently acquired eight industrial properties for an aggregate purchase price of $270 million. The acquisitions were funded using cash on hand and proceeds from forward equity settlements.

For the full year 2021, the company acquired $1.9 billion of industrial properties, bringing the total portfolio to 296 properties comprising approximately 37.1 million square feet within prime infill Southern California last-mile submarkets.

“These eight investments, acquired through off-market and lightly marketed transactions, deliver substantial value creation and result from Rexford’s deep local sharpshooter market knowledge and relationships, our value-add expertise and proprietary access to the infill Southern California market, the nation’s strongest, highest demand and highest-barrier industrial property market,” say Howard Schwimmer and Michael Frankel, co-chief executive officers of the company. “Our $1.9 billion of investments completed in 2021 are indicative of Rexford’s substantial go-forward growth opportunity.