Rexford Buys Southern California-based Industrial Portfolio for $191M
LOS ANGELES — Rexford Industrial Realty has purchased a nine-property industrial portfolio based in a variety of Southern California infill markets for $191 million.
The portfolio contains more than 1.5 million square feet of space. The properties are situated throughout Orange County, Inland Empire West, central San Diego and the Los Angeles-San Gabriel Valley markets. The portfolio is fully leased to 12 tenants.
Rexford funded the acquisition with proceeds from its recent public equity issuance and the exercise of a $100 million accordion on its $125.0 million unsecured term loan. The acquisition increased Rexford’s owned square footage by more than 12 percent.