Blog Exposure - Rexford Acquired Three Industrial Properties for $33.8 Million

LONDON, UK / ACCESSWIRE / April 12, 2018 / Active-Investors.com has just released a free research report on Rexford Industrial Realty, Inc. (NYSE: REXR) ("Rexford"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=REXR as the Company's latest news hit the wire. On April 10, 2018, the Company announced that it has acquired three industrial properties for approximately $33.8 million and sold one property for $4.5 million. The acquisitions were funded through a combination of cash on hand, use of Rexford's existing line of credit, and proceeds from the disposed property. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Rexford Industrial Realty most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=REXR

Acquisitions Enabled Rexford to Add an Attractive Value-Add Investment to its Portfolio

Howard Schwimmer and Michael Frankel, Co-Chief Executive Officers of Rexford, stated that the Company's extensive local research and relationship-driven originations process enabled the acquisition of these three assets through off-market transactions.

They added that with these three acquisitions, Rexford has added an attractive value-add investment to its portfolio as well as two fully-leased properties which provide immediate cash flow and opportunities for longer-term NOI growth.

Details of the Acquired Properties

• Rexford acquired 851 Lawrence Drive, located in Thousand Oaks in the Ventura submarket, for $6.6 million, or $132 per square foot. The property contains a vacant 49,976 square foot building on 4.87 acres of land. The Company intends to restructure the existing structure into two units and construct a new 32,000 square foot building on excess land.

• The second property located at North Main Street, in the Orange County-North submarket, was acquired for $7.2 million, or $180 per square foot. The property contains 39,661 square feet on 1.80 acres of land and is currently 100% leased to a single tenant, though it presents future value-add potential as the building is divisible into three units. The highly functional property features abundant dock-high loading and 24-foot clear height.

• The Company acquired 4039 Calle Platino, located in Oceanside in the San Diego-North County submarket, for $20.0 million, or $140 per square foot. The property contains 143,274 square feet on 9.54 acres of land and is currently 100% leased to four tenants at in-place rents that are meaningfully below market. The building also presents future value-add potential as the spaces may be further divided in the future. The highly functional property features 24-foot clear height and substantive dock high loading.

Disposed Property Proceeds Used to Fund Portion of the Calle Platino Acquisition

Rexford sold 200-220 South Grand Avenue, located in Santa Ana in the Orange County-Airport submarket, for approximately $4.5 million, or $165 per square foot (SF), to a private owner. The multi-tenant industrial building is 100% occupied and contains 27,200 square feet on 1.63 acres of land. Proceeds from the disposition were recycled in a tax deferred 1031 exchange to fund a portion of the Calle Platino acquisition.

Rexford's Recent Acquisition Deal

On March 19, 2018, the Company acquired a single-tenant industrial property for $17.2 million. The acquisition was funded through a combination of cash on hand and draws on Rexford's line of credit. The Company acquired 16010, Shoemaker Avenue, located in Cerritos, in the Los Angeles-Mid Counties submarket for $17.2 million, or $149 per SF. The property contains 115,600 SF on 4.41 acres of land. The highly functional property features 24-foot clearance and 12 dock-high positions with a secured concrete yard and immediate access to major transportation arterials.

About Rexford Industrial Realty, Inc.

Founded in 2001 and headquartered in Los Angeles, California, Rexford Industrial is a REIT focused on owning and operating industrial properties in Southern California in-fill markets. The Company owns 156 properties with approximately 19.0 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

Stock Performance Snapshot

April 11, 2018 - At Wednesday's closing bell, Rexford Industrial Realty's stock was slightly up 0.32%, ending the trading session at $28.40.

Volume traded for the day: 426.83 thousand shares.

Stock performance in the past twelve-month period – up 19.28%

After yesterday's close, Rexford Industrial Realty's market cap was at $2.24 billion.

Price to Earnings (P/E) ratio was at 58.80.

The stock has a dividend yield of 2.25%.

The stock is part of the Financial sector, categorized under the REIT - Industrial industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors