Los Angeles, CA - October 1, 2007
Rexford Industrial, LLC, Southern California’s leading, privately-held industrial real estate firm, has appointed four highly qualified individuals to its expert team: Mark Hereford, Director of Operations; Carl M. Franklin, Director of Construction Management; Shanda Ross, Assistant Controller, Finance and Construction; and Cristina Flor as Property Manager.
The recent hires come on the heels of Rexford’s tremendous current growth. “Rexford is positioning itself to capitalize upon current changes in the market that are creating additional buying opportunities for Rexford’s value-driven industrial real estate investment program,” explained Michael Frankel, Chief Financial Officer and Partner, who has been responsible for managing Rexford’s corporate growth. “Efforts toward increasing, developing and improving our human capital represent a critical step in further extending the Rexford platform to capitalize on developing changes in the market,” he continued. “These efforts, combined with expansion of our acquisitions team and the work we’ve accomplished with our lenders to actually improve our financing capabilities, despite the turmoil in the debt markets, add to our competitive ability to achieve our growth objectives and to continue to exceed our investors’ and partners’ expectations. With an anticipated seven-to-eight new property acquisitions scheduled to close during September alone, we are pleased to welcome the high caliber of new hires that are joining the Rexford team,” Mr. Frankel concluded.
Mark Hereford, Director of Operations for Rexford Industrial, brings more than 30 years of commercial real estate management, leasing, development and construction management to Rexford. Mr. Hereford previously served as regional leasing manger for the Abbey Company in Long Beach, CA, as well as Vice President of Surf Management, a family-owned development company in Torrance, CA.
“With more than 30 years of senior level experience spanning nearly all facets of commercial real estate investment and development, Mr. Hereford is a tremendous asset to Rexford Industrial’s management team. We are pleased to welcome him to Rexford,” said Michael Frankel, CFO and Partner with Rexford. “Mr. Hereford’s proven background in asset management, leasing and construction management combine to ensure that we maximize the long-term value of Rexford’s industrial real estate portfolios. Further, he is already proving to be a great fit within our company,” he added.
Carl M. Franklin, Director of Construction Management for Rexford Industrial, was previously Vice President of Project and Development Services with Jones Lang LaSalle in Los Angeles, where he was responsible for value engineering more than $12 million in savings to the $160 million new campus project for Abbott Vascular in Temecula, CA. Prior to joining Jones Lang LaSalle, Mr. Franklin was a Senior Project Director at Cushman and Wakefield in Los Angeles. His earlier experience included serving as director of engineering for a division of Mitsubishi Chemical and as manager of facilities engineering for Baxter Healthcare.
“Carl Franklin brings strong leadership abilities and senior management experience to Rexford Industrial,” said Mr. Frankel. “He has proven himself to be a superb negotiator and problem solver with a comprehensive business perspective and a track record of designing and building complex facility projects. We are extremely pleased to welcome him to Rexford,” he added.
Shanda Ross, Assistant Controller, Finance and Development, will be responsible for implementing construction and development accounting, maintaining investor relations and overseeing lender and investor reporting covenants for Rexford Industrial. Previously, Ms. Ross served as senior development accountant and as assistant controller for Watt Genton Associates, LP, in Santa Monica, CA. Earlier, she was property accountant with the Macerich Company in Santa Monica, following a position as accountant with Dialog Incorporated in Cary, NC.
“Ms. Ross’ expertise and extensive experience in accounting and investor relations will contribute greatly to the management of the Rexford Industrial investment vehicles,” said Mr. Frankel. “We have great confidence in her capabilities for managing the complex finance and control requirements that support the successful acquisition, development, revitalization and repositioning of industrial properties,” he added.
Cristina Flor, Project Manager for Rexford Industrial, most recently served as commercial portfolio manager with Moss & Company in Sherman Oaks, CA. Earlier, she was commercial portfolio supervisor of operations and logistics director for Sunrise Property Management of Encino, CA.
“Christina Flor’s extensive experience in project management will be a tremendous asset to Rexford’s portfolios of multi-tenant industrial properties,” said Mr. Schwimmer.
About Rexford Industrial
Rexford Industrial LLC (www.rexfordindustrial.com) is a leading industrial real estate firm in Southern California. A well-capitalized private investment company, Rexford invests in all classes and every category of industrial properties. The company combines a uniquely creative, entrepreneurial approach to value creation with a conservative, risk-averse approach to investing that is designed to perform well during all phases of the real estate cycle. Rexford offers brokers unique investment incentives and capitalizes upon an exceptional network of loyal relationships in the industry. With a current portfolio of approximately five million square feet valued at more than $600 million, Rexford is targeting substantial growth through further acquisitions of industrial property. The firm is based in Los Angeles.