Rexford Industrial Realty, Inc. [NYSE: REXR] revealed that it has purchased three industrial assets. The firm has bought the assets by utilizing the cash on hand, and 1031 of profits. The firm has also revealed that on one of the assets it has also got the commitment of the debt.
The properties which the company has bought indicating 176,670 square feet of expansions, a 2.5-acre industrial outdoor storage site, and a 5.6-acre restoration site for a total buying price of $72.7 million. Rexford which has gained recognition as the real estate investment trust has acquired various assets in January and February.
It has purchased 5002-5018 Lindsay Court, situated in Chino, within the Inland Empire-West submarket for $12.7 million or $195 per square foot, 17907-18001 S. Figueroa Street, situated in LA within the LA-South Bay submarket for $20.2 million or $91 per land square foot, 7817 Woodley Avenue, situated in LA within the LA San Fernando Valley submarket for $10.0 million or $270 per square foot.
Furthermore, it has bought 514 East C Street, situated in Wilmington, within the LA South Bay submarket for $10.0 million or $92 per land square foot, and 8888-8892 Balboa Avenue, situated in San Diego within the San Diego Central submarket for $19.8 million or $82 per land square foot.
The real estate firm has started 2021 with excellent investment and has bought the various properties and increased its transaction activity. These acquisitions have demonstrated how much the company is committed to creating value for its investors.