Rexford Industrial Realty buys properties for $1 bln from Blackstone Real Estate-December 2024-www.financetom.com

Rexford Industrial Realty buys properties for $1 bln from Blackstone Real Estate

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Rexford Industrial Realty buys properties for $1 bln from Blackstone Real Estate

Mar 28, 2024 2:05 PM

March 28 (Reuters) - Rexford Industrial Realty ( REXR ),

a real estate investment trust (REIT), said on Thursday it had

acquired industrial properties for $1 billion from Blackstone

Real Estate.

Rexford has acquired about 3 million square feet of

industrial properties located in Southern California for about

$332 per square foot on average.

The investment was funded using proceeds from Rexford

Industrial's exchangeable senior note offerings and cash on

hand.

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