Rexford Industrial Realty, Inc. acquired three Industrial buildings in Van Nuys for $12.4 million.
August 22, 2021
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Rexford Industrial Realty, Inc. (NYSE:REXR) acquired three Industrial buildings in Van Nuys for $12.4 million on August 17, 2021. In a related transaction, 5 building light industrial and manufacturing campus is located in Western Torrance were acquired. The aggregate purchase price of the transaction is $194.4 million or $233 per square foot of 53,248 square feet of property in Van Nuys and $316 per square foot of 575,976 square foot of property in Torrance. The acquisitions were funded using cash on hand. With $779 million of acquisitions completed year-to-date, plus an additional $600 million of new investments under contract or accepted offer, Rexford Industrial are well positioned to drive superior shareholder value creation through accretive internal and external growth.
Rexford Industrial Realty, Inc. (NYSE:REXR) completed the acquisition of three Industrial buildings in Van Nuys on August 17, 2021.
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.