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October 26, 2023
Rexford Industrial Announces $245 Million of Investment Activity
October 23, 2023
Rexford Industrial Announces Science-Based Net-Zero Target Validation
October 18, 2023
Rexford Industrial Announces Third Quarter 2023 Financial Results
Rexford Industrial Announces Fourth Quarter and Full Year 2021 Operating Results, Investment and Capital Markets Activity
"Rexford's exceptional fourth quarter and full year results reflect the strength of our entrepreneurial team and highly-focused business model dedicated to creating value by investing in industrial property throughout infill
Operating Results:
Fourth quarter and full year 2021 leasing activity demonstrate strong tenant demand fundamentals within Rexford's target
Q4 2021 Leasing Activity |
||||||||
Releasing Spreads |
||||||||
# of Leases |
SF of Leasing |
GAAP |
Cash |
|||||
New Leases |
30 |
223,347 |
46.1% |
31.5% |
||||
Renewal Leases |
62 |
776,554 |
32.1% |
19.8% |
||||
Total Leases |
92 |
999,901 |
34.2% |
21.5% |
||||
Full Year 2021 Leasing Activity |
||||||||
Releasing Spreads |
||||||||
# of Leases |
SF of Leasing |
GAAP |
Cash |
|||||
New Leases |
218 |
3,057,661 |
41.7% |
27.2% |
||||
Renewal Leases |
268 |
3,912,306 |
43.2% |
29.5% |
||||
Total Leases |
486 |
6,969,967 |
42.7% |
28.8% |
At
Investment Activity:
During the fourth quarter, the Company completed 19 acquisitions representing 19 properties and 2.0 million square feet for an aggregate purchase price of
During the full year of 2021, the Company completed 51 acquisitions representing 53 properties and 5.7 million square feet for an aggregate purchase price of
For the full year 2021, the Company stabilized six repositioning and redevelopment projects representing 1.0 million square feet and an aggregate
Capital Markets Activity:
During the fourth quarter, the Company executed on its at-the-market equity offering program, selling 4,180,001 shares of common stock subject to forward equity sale agreements at an average price of
In
As of
Investor Presentation:
An updated investor presentation with additional information is available on the Company's investor relations website at www.ir.rexfordindustrial.com.
Fourth Quarter Earnings Release:
The Company will release fourth quarter and full year 2021 financial results after the market closes on
About
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the
Contact:
Investor Relations:
424 256 2153 ext. 401
investorrelations@rexfordindustrial.com
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