Rexford Industrial Realty, Inc. is a Real Estate Investment Trust (REIT) that specializes in owning, operating, and developing industrial properties. The company's operations are exclusively focused on infill markets throughout Southern California. Its portfolio is concentrated in key regions including Los Angeles County, Orange County, the Inland Empire (Riverside and San Bernardino County), San Diego County, and Ventura County. A notable part of Rexford's strategy includes acquiring properties for repositioning and pursuing ground-up development projects to enhance its portfolio within these supply-constrained areas.
Rexford Industrial Realty is currently executing a reformed, return-driven strategy focused on portfolio optimization, capital recycling, and driving per-share value. Instead of aggressively growing its footprint, the company's high-level plan involves selling non-core or mature assets at premium valuations and utilizing the proceeds to fund higher-yielding repositioning projects and substantial share buybacks. At the same time, the company is still digesting the after-effects of its largest historical transaction: the spring 2024 acquisition of a 48-property industrial portfolio from Blackstone. This landmark deal consisted of roughly 3 million square feet of infill Southern California properties for $1.0 billion. The Blackstone transaction was executed at a cap rate of approximately 5.0% and a price of roughly $333 per square foot.
Acquisitions
Dispositions
Refinancings, new loans & other capital markets
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