Press Release Details

- Increases Availability to $300 Million -

- Extends Maturity Date and Reduces Rate -

LOS ANGELES--(BUSINESS WIRE)-- Rexford Industrial Realty, Inc. (the “Company” or “Rexford Industrial”) (NYSE:REXR), a real estate investment trust focused on owning and operating industrial properties located in Southern California infill markets, today announced that it has amended the terms and expanded the availability under its existing unsecured revolving credit facility to $300 million.

The amended credit facility is unsecured and availability has been increased by $100 million, resulting in a $300 million facility that now consists of a $100 million unsecured term loan and a $200 million revolver. The Company, as of June 11, 2014, had available capacity of $153 million under the revolver. Borrowings under the revolver bear interest at a rate equal to LIBOR plus from 1.30% to 1.90% (down from 1.35% to 2.05%), depending on our leverage ratio, or the base rate (as defined in the credit agreement). The maturity date of the revolver was extended to June 11, 2018 (previously July 24, 2016), with one 12-month extension option exercisable by the Company, subject to certain conditions. Rexford Industrial intends to utilize the proceeds from the revolver to primarily fund acquisitions, value-add repositioning and tenant improvement projects. The unsecured term loan bears interest at a rate equal to LIBOR plus from 1.25% to 1.85%, depending on our leverage ratio, or the base rate (as defined in the credit agreement). The unsecured term loan has a five-year term ending on June 11, 2019. The amended credit facility also includes an accordion feature which would allow the facility to be increased by an additional $300 million under certain circumstances, including the identification of lenders willing to make available such additional amounts.

“The amended credit facility provides Rexford Industrial with a lower cost of capital, enhanced financial flexibility and additional capacity to support the ongoing pursuit of our growth objectives,” stated Adeel Khan, Chief Financial Officer of Rexford Industrial.

Additional details on the amended credit facility may be found in the Form 8-K filed today with the Securities and Exchange Commission and also available on the Investor Relations section of our website at www.rexfordindustrial.com.

About Rexford Industrial

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns interests in 75 properties with approximately 8.2 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

For additional information, visit www.rexfordindustrial.com.

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 U.S. Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

Investor Relations:
Stephen Swett, 424 256 2153 ext 401
investorrelations@rexfordindustrial.com

Source: Rexford Industrial Realty, Inc.