Rexford Industrial Realty Acquires Industrial Assets From Blackstone for Total $1 Billion
Provided by
Dow Jones
By Denny Jacob
Rexford Industrial Realty acquired industrial assets from Blackstone for an aggregate purchase price of $1 billion.
The real estate investment trust said it bought roughly 3 million square feet of industrial properties pursuant to separate transactions with Blackstone Real Estate, including the Blackstone Property Partners strategy as well as Blackstone Real Estate Partners and Blackstone Real Estate Income Trust.
The combined portfolio is 98% leased, with 99% of the property square footage located within core, infill submarkets in Los Angeles and Orange counties, the companies said.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 28, 2024 16:40 ET (20:40 GMT)
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