Rexford Industrial Closes $191M Buy

The properties are located throughout Southern California.

LOS ANGELES—Public REIT Rexford Industrial Realty has acquired a nine-property, 1.53 million–square-foot industrial portfolio for $191 million from CT Realty Investors. The portfolio is located in markets throughout Southern California, and it provides some upside through value-add opportunities.

“CT did a great job of collecting a great Southern California portfolio of institutional buildings. The goal was to acquire class-A assets and exit through a sale,” Darla Longo, vice chairman at CBRE, tells GlobeSt.com. “They had built the portfolio over several years, and this was truly in their business plan. It was also in Rexford’s business plan, which is a Southern California REIT.” Longo and her colleague vice chairman Barbara Emmons represented both CT Realty and Rexford in the transaction. Rexford declined to comment on the transaction due to a company policy that prohibits media interaction preceding an earnings call.