REXFORD INDUSTRIAL REALTY, INC. (NYSE:REXR) Files An 8-K Other EventsItem 8.01 Other Events.
As previously disclosed in Item 5 of the Form 10-Q filed by the Company with the Securities and Exchange Commission on May 7, 2018, on May 1, 2018, the Company through a wholly owned subsidiary of its operating partnership, Rexford Industrial Realty, L.P., entered into an agreement (subsequently superseded by a replacement agreement on May 7, 2018) with a third-party seller to acquire an approximately 0.7 million square foot industrial building located at 5300 Sheila Street in the Central Los Angeles market (the "Property").
On May 9, 2018, the Company completed the acquisition of the Property for a purchase price of $121.0 million, exclusive of closing costs. The acquisition of the Property was funded with proceeds from drawing on the Company's unsecured revolving credit facility.
About REXFORD INDUSTRIAL REALTY, INC. (NYSE:REXR)
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. The Company’s consolidated portfolio consisted of approximately 119 properties with over 12.0 million rentable square feet. The Company also owns interest in a joint venture (the JV) that indirectly owns one property with approximately 0.5 million square feet, which it also manages. The Company manages an additional 19 properties with approximately 1.2 million rentable square feet. The Company’s properties are concentrated in various industries, such as wholesale and retail, light manufacturing, industrial equipment and components, warehousing and storage, food and beverage, business services, construction, automotive, paper and printing, pharmaceuticals and healthcare.
