LOS ANGELES—Rexford Industrial, a publiclytraded REIT, has announced an offering of 15million shares of common stock. The offering includes a 30-dayunderwriters option to purchase an additional 2,250,000 shares withthe underwriters discount.

Rexford Industrial plans to use the capital gains from theoffering to repay debt for its operating partnership. Rexford hasrecently been expanding its Southern California industrialportfolio. This year, the REIT has spent $196 million on industrialproperties throughout Southern California. Its most recentacquisitions include a nine-property portfolio purchased for $88.9 million. The properties inthe 817,166-square-foot portfolio are located in Los Angeles,Orange and San Diego Counties. The REIT also purchased a 100,500-square-foot property inthe San Fernando Valley for $11 million.

The offering has five joint book runners—BofA MerrillLynch, J.P. Morgan, Wells FargoSecurities, Citigroup andJefferies. Rexford Industrial declined to commenton the offering due to SEC regulations.