Rexford Industrial Announces Acquisition Of An Industrial Property For A Purchase Price Of $210M
Portfolio Pulse from Happy Mohamed
Rexford Industrial Realty, Inc. (REXR) has announced the acquisition of an industrial property in Southern California for $210 million. The acquisition was funded using proceeds from forward equity settlements. The company's year-to-date investments total $1.1 billion. The acquired property is 100% leased to two tenants and is expected to generate an initial unlevered cash yield of 5.0%, projected to grow to 6.2% through re-leasing at market rents and contractual annual rent increases of 4.0%.
July 24, 2023 | 12:40 pm
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Rexford Industrial Realty's acquisition of a $210 million industrial property in Southern California could potentially increase the company's cash flow and net asset value. The property is fully leased and is expected to generate a growing cash yield.
The acquisition of the industrial property is a significant investment for Rexford Industrial Realty, which could potentially increase the company's cash flow and net asset value. The property is fully leased, which means it will start generating revenue immediately. Furthermore, the expected growth in cash yield indicates that the company could see increased returns from this investment in the future.
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