Rexford Industrial Realty, Inc. acquired 3547 - 3555 Voyager St., Torrance, Located within the LA - South Bay Submarket for $20.9 million.
July 18, 2022
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Rexford Industrial Realty, Inc. (NYSE:REXR) acquired 3547 - 3555 Voyager St., Torrance, Located within the LA - South Bay Submarket for $20.9 million on July 12, 2022. In a related transaction, Rexford Industrial Realty, Inc. acquired six more industrial properties. The property is being acquired for $162 per land square foot. The seven properties were acquired for an aggregate purchase price of $660.9 million. The purchases were funded using a combination of cash on hand, proceeds from forward equity settlements and the Company's line of credit. The investment generates an initial 3.0% unlevered cash yield and is projected to grow to an unlevered stabilized cash yield on total investment of 4.6%.
Rexford Industrial Realty, Inc. (NYSE:REXR) completed the acquisition of 3547 - 3555 Voyager St., Torrance, Located within the LA - South Bay Submarket on July 12, 2022.
Rexford Industrial Realty, Inc. is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. It acquires, owns, improves, redevelops, leases, and manages industrial real estate principally located in Southern California infill markets, through Rexford Industrial Realty, L.P. (Operating Partnership) and its subsidiaries. It also acquires or provides mortgage debt secured by industrial property. It provides property management services and leasing services to related parties and third-party property owners. Its property management services include performing property inspections, monitoring repairs and maintenance, negotiating vendor contracts, maintaining tenant relations and providing financial and accounting oversight. The Company's portfolio consists of over 422 properties with approximately 49.1 million rentable square feet.
REXFORD INDUSTRIAL REALTY, INC. 
