Rexford Industrial Realty has closed the sale of an industrial portfolio to an affiliate of EQT Real Estate for approximately $1.2 billion, a transaction that forms part of the company's previously announced $2.0 billion disposition initiative targeting non-core assets. The portfolio comprises 22 industrial properties totaling 5.2 million rentable square feet, averaging 237,000 square feet per property, with a weighted average remaining lease term of 2.7 years at closing and in-place rents 28% above current market rates. The portfolio's estimated 2027 cash NOI yield is approximately 5.5%, reflecting the anticipated roll-down of above-market in-place rents and expected tenant moveouts. Chief Executive Officer Laura Clark said the closing reflects decisive actions to advance the $2.0 billion realignment, with $1.5 billion of dispositions completed year to date, positioning the company within its full-year 2026 disposition guidance range of $1.5 billion to $2.0 billion. Third quarter to date, Rexford has used a portion of disposition proceeds to repay $485 million of debt and repurchase $205 million of common stock, while year to date it has repaid $492 million of debt and repurchased $505 million of common stock, and the company reaffirmed its 2026 guidance issued with its second quarter earnings release dated July 23, 2026.
Rexford Industrial Realty IncEQT Real Estate affiliate acquired a 22-property, 5.2M sq ft industrial portfolio for ~$1.2 billion from Rexford.
