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Rexford Industrial Realty has agreed to sell a portfolio of 22 industrial properties to an affiliate of EQT Real Estate for about USD 1.2 billion as part of its previously announced USD 2 billion portfolio realignment programme. The transaction is expected to close by the end of the third quarter, subject to customary closing conditions. Rexford plans to use the net proceeds for its capital allocation priorities, including debt repayment, share repurchases and development projects. The Los Angeles-based REIT owns and operates industrial properties across infill Southern California and has reaffirmed its 2026 forecast.
Rexford Industrial Realty has agreed to sell a portfolio of 22 industrial properties to an affiliate of EQT Real Estate for about USD 1.2 billion, as the real estate investment trust (REIT) moves ahead with its USD 2 billion plan to dispose of non-core assets and recycle capital.
Shares of Rexford rose 1.4 per cent in early trading following the announcement. The transaction is expected to close by the end of the third quarter of 2026, subject to customary closing conditions. The company said the sale forms part of its previously announced USD 2 billion portfolio realignment programme.
Rexford plans to use the net proceeds from the transaction to support its capital allocation priorities. These include repaying debt in 2027, share repurchases and funding development projects.
According to LSEG data, Rexford's portfolio comprises around 414 properties with 50.4 million rentable square feet.
The Los Angeles-based REIT invests in and operates industrial properties across infill Southern California, a market characterised by established industrial locations and limited availability of land for new development.
The company has also reaffirmed its 2026 financial forecast, while continuing with its portfolio realignment and capital recycling strategy.
Source PTI
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