- Rexford Industrial Realty (REXR -0.5%) announced the acquisition of a single-tenant industrial property for $17.2M.
- The company funded the acquisition through a combination of cash on hand and draws on it's line of credit.
- "We continue to capitalize on our deep market knowledge and ability to uncover off-market acquisition opportunities as a consolidator within infill Southern California, the nation's largest and most sought-after industrial market," stated Howard Schwimmer and Michael Frankel, Co-Chief Executive Officers of the Company. "This 100% leased, modern property provides immediate cash flow and is ideally located in the desirable and low-vacancy Mid Counties submarket. As we progress through 2018 and beyond, we remain focused on executing both our internal and external growth strategies to drive cash flow and to create long term value for our shareholders."
- Press Release
- Now read: I Am No Cheerleader For Government Properties Income Trust
Original article