other material
confidence high
sentiment neutral
materiality 0.50
Rexford acquires SoCal industrial property for $24M; issues new Series 3 CPOP units
Rexford Industrial Realty, Inc.
- Acquired one industrial property in Southern California for ~$24.0M.
- Paid ~$12M cash and issued 164,998 Series 3 CPOP Units (liquidation preference $72.72825/unit, aggregate ~$12M).
- Series 3 CPOP Units carry 3.00% cumulative cash distribution, payable quarterly, convertible 1-for-1 into common units.
- Created Series 3 CPOP Units via Eighth Amended and Restated Partnership Agreement filed as Exhibit 10.1.