Rexford Industrial Announces $81M Of Transaction Activity; Full Year 2023 Investments Total $1.5B Within Prime Infill Southern California Submarkets
Portfolio Pulse from Benzinga Newsdesk
Rexford Industrial Realty, Inc. (REXR) announced $81M in recent transactions, including two acquisitions for $69.5M and one disposition for $11.3M, bringing its full year 2023 investments to $1.5B in Southern California. The company acquired properties in Anaheim and South El Monte, with plans for redevelopment into Class A industrial buildings, and sold a fully occupied multi-tenant building in Santa Ana. The transactions were funded through equity settlements, cash, and 1031 proceeds, with a pipeline of $75M in new investments.
January 04, 2024 | 9:21 pm
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Rexford Industrial completed $81M in transactions, with $1.5B invested in 2023. Acquired two properties for redevelopment and sold one in Santa Ana. The company's strategic investments and low leverage balance sheet position it for long-term growth.
The recent transactions demonstrate Rexford Industrial's active investment strategy and ability to execute deals in a competitive market. The redevelopment plans for the acquired properties are likely to enhance their value, contributing to the company's growth. The positive investment activity and low leverage balance sheet are indicators of financial health and strategic positioning, which are likely to be viewed favorably by investors in the short term.
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