Item 8.01 OTHER EVENTS




The following discussion provides information with respect to certain recent
developments of Rexford Industrial Realty, Inc. (the "Company"). Unless
otherwise expressly stated or the context otherwise requires, "we," "us" and
"our" refer collectively to the Company, Rexford Industrial Realty, L.P. and the
Company's other subsidiaries.

Operating Results



The following table summarizes our third quarter leasing activity through
August 31, 2021:



                                                  Leasing Activity (July 1,

2021 through August 31, 2021)


                                                                                                   Releasing Spreads
                                   # of Leases Executed           Square Feet Leased             GAAP               Cash
New Leases                                            45                      553,177                41.7 %           28.0 %
Renewal Leases                                        45                      475,936                47.7 %           32.1 %

Total Leases                                          90                    1,029,113                44.9 %           30.2 %


At August 31, 2021, our Stabilized Same Property Portfolio occupancy was 98.5%,
up 10 basis points from June 30, 2021. At August 31, 2021, our consolidated
portfolio occupancy was 96.0%, up 60 basis points from June 30, 2021, primarily
due to the lease-up and occupancy of certain units under repositioning. For the
two months ended August 31, 2021, average occupancy of our Stabilized Same
Property Portfolio was 98.5% and average occupancy of our consolidated portfolio
was 95.9%.

Property Acquisitions and Dispositions



As of the date of this Current Report on Form 8-K, during the third quarter of
2021, we have acquired 12 properties with an aggregate of approximately
2.1 million rentable square feet of buildings and 59.5 acres of low coverage
storage sites and land for future redevelopment for an aggregate purchase price
of approximately $663.5 million. During the same period we also completed the
disposition of one 71,602 square foot industrial property for a sales price of
$18.6 million. Year-to-date through September 20, 2021, we have acquired 33
properties with approximately 3.6 million rentable square feet of buildings and
94.0 acres of low coverage storage sites and land for future redevelopment for
an aggregate purchase price of approximately $1.1 billion.

At September 20, 2021, we had over $500 million of acquisitions under contract or letter of intent. There can be no assurance we will complete any such acquisitions.

Financing Developments

Subsequent to June 30, 2021, we funded a portion of the acquisitions described above with draws on our unsecured revolving credit facility and through the physical settlement of certain forward equity sale agreements with certain financial institutions acting as forward purchasers.



As of the date of this Current Report on Form 8-K, during the third quarter of
2021, we have directly sold a total of 786,174 shares of our common stock at a
weighted average price of $60.42 per share, for gross proceeds of approximately
$47.5 million, and net proceeds of approximately $46.9 million, after deducting
the sales agent's fee through our ATM program. In addition, we entered into a
forward equity sale agreement with a financial institution acting as a forward
purchaser under our ATM program with respect to 2,611,784 shares of our common
stock at an initial forward sale price of approximately $60.94 per share. We did
not initially receive any proceeds from the sale of shares of common stock by
the forward purchaser (or its affiliate). In September 2021, we provided notice
to the forward purchaser of our election to physically settle the 2,611,784
shares outstanding under this forward equity sale agreement for total estimated
net proceeds of $159.1 million with a settlement date of September 27, 2021.

--------------------------------------------------------------------------------
In September 2021, we partially settled forward equity sale agreements entered
into in connection with our underwritten public offering in May 2021 by issuing
2,690,474 shares of common stock for net proceeds of $147.8 million. Also in
September 2021, we provided notice to the forward purchasers of our election to
physically settle the remaining 4,500,000 shares outstanding under the May 2021
forward equity sale agreements for total estimated net proceeds of
$247.2 million with a settlement date of September 27, 2021.

At the date of this Current Report on Form 8-K, we had borrowings of
$387.5 million outstanding under the unsecured revolving credit facility leaving
$312.5 million available to us. We intend to use the proceeds from the
settlement of the forward equity sale agreements described above to fully repay
amounts outstanding under the unsecured revolving credit facility on
September 27, 2021, which will provide us with availability of the full
$700 million of borrowing capacity under our unsecured revolving credit
facility.

Cautionary Statement Regarding Forward-Looking Statements



This Current Report on Form 8-K contains certain "forward-looking" statements as
that term is defined by Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended. Statements
that are predictive in nature, that depend on or relate to future events or
conditions, or that include words such as "believes", "anticipates", "expects",
"may", "will", "would", "should", "estimates", "could", "intends", "plans" or
other similar expressions are forward-looking statements. Forward-looking
statements involve significant known and unknown risks and uncertainties that
may cause the company's actual results in future periods to differ materially
from those projected or contemplated in the forward-looking statements as a
result of, but not limited to, the following factors: timing and consummation of
any proposed transactions; risks and uncertainties related to market conditions
and satisfaction of any conditions related to any proposed transactions; and the
impact of legislative, regulatory and competitive changes and other risk factors
relating to the industries in which we operate, as detailed from time to time in
each of our reports filed with the U.S. Securities and Exchange Commission.
There can be no assurance that any proposed transactions described herein will
be consummated on the terms described herein or at all.

While forward-looking statements reflect the Company's good faith beliefs,
assumptions and expectations, they are not guarantees of future performance. For
a further discussion of these and other factors that could cause the Company's
future results to differ materially from any forward-looking statements, see the
reports and other filings by the Company with the U.S. Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for the year
ended December 31, 2020 and other filings with the Securities and Exchange
Commission. The Company disclaims any obligation to publicly update or revise
any forward-looking statement to reflect changes in underlying assumptions or
factors, of new information, data or methods, future events or other changes.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses