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Rexford Industrial Acquires Two Southern California Industrial Properties for USD 26m
Wednesday 11 September 2019

11 September 2019 - California, US-based real estate investment trust Rexford Industrial Realty, Inc. (NYSE: REXR) has acquired two Southern California industrial properties in an off-market transaction for USD 26.8m, the company said.
The acquisitions were funded using cash-on-hand.
Rexford said these investments demonstrate the strength of the company's proprietary originations platform and ability to originate value-add investment opportunities capable of generating above-market cash yields within prime infill Southern California industrial markets.
The property located in Downey and within the LA Mid Counties submarket, was acquired for USD 16.3m, or USD 64 per land square foot. 
A second property located in Downey within the LA Mid Counties submarket, was acquired for USD 10.5m, or USD 65 per land square foot.
Rexford Industrial is a real estate investment trust focussed on owning and operating industrial properties in Southern California infill markets.

The company owns 203 properties with approximately 24.4m rentable square feet and manages an additional 19 properties with approximately 1m rentable square feet.
Date Published: 11/09/2019
Target: Two Southern California industrial properties
Country: USA
Deal Size: 26.8m (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash
Status: Closed
Buyer: Rexford Industrial Realty, Inc