Rexford

Industrial

Realty

NYSE: REXR

www.rexfordindustrial.com

Supplemental Investor Update

June 2022

2

REXFORD

INDUSTRIAL SUPPLEMENTAL INVESTOR UPDATE

Forward Looking Statements

This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We caution investors that any forward-looking statements presented herein are based on management's beliefs and assumptions and information currently available to management. Such statements are subject to risks, uncertainties and assumptions and may be affected by known and unknown risks, trends, uncertainties and factors that are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. These risks and uncertainties include, without limitation: general risks affecting the real estate industry (including, without limitation, the market value of our properties, the inability to enter into or renew leases at favorable rates, portfolio occupancy varying from our expectations, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); risks associated with the disruption of credit markets or a global economic slowdown; risks associated with the potential loss of key personnel (most importantly, members of senior management); risks associated with our failure to maintain our status as a REIT under the Internal Revenue Code

of 1986, as amended; possible adverse changes in tax and environmental laws; and potential liability for uninsured losses and environmental contamination. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. The risks described above are not exhaustive and additional factors could adversely affect our business and financial performance, including those discussed in our annual report on Form 10-K, for the year ended December 31, 2021, and subsequent filings with the Securities and Exchange Commission. We expressly disclaim any responsibility to update forward-looking statements, whether as a result of new information, future events or otherwise.

2Q QTD Update

Operations Highlights

Continued Strong Portfolio Fundamentals1

3

REXFORD

INDUSTRIAL SUPPLEMENTAL INVESTOR UPDATE

77 new and renewal leases executed representing

99.1% QTD Same Property Portfolio average

996,000 SF

occupancy

86% GAAP and 63% Cash leasing spreads on new

3.2M SF of expirations remaining in 2022

and renewal leases

representing 8% of total portfolio ABR

4.2% average annual contractual rent steps on

executed new and renewal leases

Quarterly Leasing Spreads1

(Combined New and Renewal)

86%

71%

63%

54%

57%

34%

39%

34%

21%

22%

2Q21

3Q21

4Q21

1Q22

2Q22 QTD

(April/May)

GAAP

Cash

1. QTD as of 5/31/2022 unless otherwise noted

2Q QTD Update

Acquisitions and Capital Markets Highlights

2022 Acquisitions and Pipeline1

~$1.4B+

4

$600M+

Pipeline

REXFORD

INDUSTRIAL

SUPPLEMENTAL

INVESTOR

UPDATE

$316M

$774M Closed YTD

2Q QTD

85% Off/Lightly

marketed

$458M

4.7% Projected stabilized

1Q

unlevered yield on total

investment

2022 Closed Acquisitions

Pipeline - Under Contract/LOI

2Q QTD Capital Markets Activities1

Upsized $1B revolving credit facility

Enhanced terms including reduced borrowing costs and sustainability-linked pricing

New $300M 5-year term loan

Proceeds repaid 2025 $150M term loan and revolving credit facility

Renewed ATM program - $1B Total Capacity

$983M ATM capacity remains

Equity Issuance through ATM

Sold 4.4M shares at $69.01 average price

on a forward basis for gross proceeds of $305M

$533M forward equity proceeds remaining for settlement

1. As of 6/1/2022

www.rexfordindustrial.com

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Rexford Industrial Realty Inc. published this content on 02 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 June 2022 13:11:02 UTC.