Rexford Industrial Realty, Inc. acquired 400 W Rosecrans Avenue, Los Angeles for $8.5 million.
July 18, 2022
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Rexford Industrial Realty, Inc. (NYSE:REXR) acquired 400 W Rosecrans Avenue, Los Angeles for $8.5 million in July 2022. In related transactions, Rexford also acquired a six-building industrial project located at 6221 and 6251 Archibald Avenue and 14301, 14319, 14337 and 14326 Limonite Avenue in Eastvale; 4325 Etiwanda Avenue, Jurupa Valley; 3935-3949 Heritage Oak Court, Simi Valley; 3547-3555 Voyager Street, Torrance; 620 E Anaheim Street, Los Angeles; and 6996 and 7044 Bandini Boulevard, Commerce. The seven industrial 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 is projected to generate a 5.2% unlevered stabilized yield on total investment.
Rexford Industrial Realty, Inc. (NYSE:REXR) completed the acquisition of 400 W Rosecrans Avenue, Los Angeles in July 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. 
