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.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.