M&A
confidence high
sentiment positive
materiality 0.80
Rexford Industrial acquires 1.06M sf industrial project for $470M; secures $400M term loan
Rexford Industrial Realty, Inc.
- Acquired private REIT owning a 1,057,419 sf six-building industrial project in Eastvale, CA for $470M cash.
- Entered $400M Term A-2 Facility under existing credit agreement; proceeds for acquisition funding and corporate purposes.
- Term loan matures July 19, 2024 with two one-year extension options.
- Seller is unaffiliated; project sits on approximately 49.7 acres.