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REXFORD INDUSTRIAL LEASES 26,506 SF PROPERTY IN RANCHO CUCAMONGA TO PNEUMATIC SCALE CORPORATION

Los Angeles, CA, May 21, 2013 – Rexford Industrial, a real estate investment company specializing in Southern California industrial properties, recently completed a 26,506 square foot lease for 10860 6th Street in Rancho Cucamonga, California to Pneumatic Scale Corporation, a leading global supplier of packaging automation equipment and services for pharmaceuticals, cosmetics, foods and beverages.

“The Inland Empire sub-market has a growing demand for office/engineering hybrid-use properties,” said Howard Schwimmer, Rexford’s Senior Managing Partner. This is one of the few free-standing, single-story buildings with the type of office and warehouse space that can accommodate engineering and technology companies.”

Rexford operates more than 7.5 million square feet of industrial properties within the Southern California region, including single and multi-tenant warehouse & distribution centers and light manufacturing facilities.

Nicholas Chang and Richard Lee of NAI Capital represented the landlord and Teddy Chapman, Alex Blecksmith, Josh Hayes-McKeirnan and Scott Heaton of Colliers International represented the tenant in the transaction.

About Rexford Industrial

Rexford Industrial is a leading industrial real estate investment firm that acquires, manages and develops all classes of industrial properties located in Southern California, including core, value-add, repositioning and re-development. Rexford is now acquiring more than $500 million of industrial property with its proprietary industrial funds, including Rexford Industrial Fund V REIT. Rexford accomplishes this through its creative and entrepreneurial approach to value creation combined with a conservative, risk-averse investment strategy that is designed to perform well during all phases of the real estate cycle.

For additional information, visit www.rexfordindustrial.com.

 

REXFORD INDUSTRIAL ACQUIRES 100,851 SQUARE FOOT LOS ANGELES DISTRIBUTION WAREHOUSE FOR $5.27M

Los Angeles – June 12, 2013 – Rexford Industrial has acquired a 100,851 square-foot distribution warehouse located at 1661 West 240th Street, in the Los Angeles South Bay region. The property was purchased for $5,270,000 ($52.26 per square foot) with a short term sale lease-back to the owner who will be consolidating the company’s operations to the East Coast.

Rexford is planning to fully renovate and modernize the property into a state-of-the-art single-tenant distribution/warehouse, adding substantial dock-high loading capacity. The site is ideally located in Southern California’s South Bay sub-market, one of the top performing industrial markets in the country, within close proximity to the ports of Los Angeles and Long Beach and just off interstate highway 110.

“This property offers great upside potential,” said Howard Schwimmer, co-founder and Senior Managing Partner of Rexford Industrial. “The renovated building will ideally serve port related users offering a large amount of parking with the addition of 13 new dock loading positions.”

Both buyer and seller were represented by Michael Collins, Peter Von Hagen and Jeffery Potter of Daum Commercial Real Estate in an all cash transaction.

About Rexford Industrial

Rexford Industrial is a leading industrial real estate investment firm that acquires, manages and develops all classes of industrial properties located in Southern California, including core, core plus, value add, and first mortgages tied to industrial property. Rexford is now acquiring more than $500 million of industrial property with its proprietary industrial funds, including Rexford Industrial Fund V REIT. Rexford accomplishes this through its creative and entrepreneurial approach to value creation combined with a conservative, risk-averse investment strategy that is designed to perform well during all phases of the real estate cycle.

 

REXFORD INDUSTRIAL LAUNCHES NEWEST INVESTMENT FUND TO FOCUS ON VALUE-ADD INDUSTRIAL REAL ESTATE

Fund to Create Value Through Modernization, Improvement and Re-Tenanting of Under-Utilized Industrial Properties

Los Angeles, CA, June 5, 2007
Rexford Industrial, LLC, Southern California’s leading, privately held industrial real estate firm, has launched Rexford Industrial Fund IV (RIF IV), the fourth in a series of successful value-add industrial real estate investment funds managed by Rexford. RIF IV will create value through the modernization, improvement and re-tenanting of under-utilized and mismanaged industrial properties to increase property cash flows and value.

“RIF IV was oversubscribed with a closing of $51 million and is positioned to deliver exceptional risk-adjusted investor returns by utilizing Rexford’s proven industrial real estate investment strategies,” said Michael Frankel, Rexford’s Chief Financial Officer and Partner, who is responsible for forming and raising Rexford’s investment funds. “Rexford would like to thank our numerous repeat individual and institutional investors for their continued vote of confidence,” added Mr. Frankel, “consistent with our prior investment funds, RIF IV delivers to investors favorable exposure to the difficult-to-access, yet highly sought after fragmented end of the value-add industrial real estate market, focused principally on Southern California and extending to the Western States.”

Rexford conducted RIF IV’s formation and fund raise in-house without the use of placement agents. The company’s conservative, yet entrepreneurial approach to investing, developed over the prior 30 years, has generated an excellent track record of consistently exceeding investor expectations. The Rexford value-driven investment strategy is positioned to perform well through all phases of the real estate cycle.

Established by Howard Schwimmer, Managing Member and Partner, together with Richard Ziman, former Founder, Chairman and CEO of Arden Realty until its sale to GE in 2006, Rexford is a thought leader in industrial real estate. Rexford’s principals have a long and distinguished track record of successful industrial property acquisition, repositioning and disposition, marked by an unmatched, entrepreneurial approach to deal origination and value creation.

“RIF IV will invest in Class A, B and C, occupied, pre-stabilized, or value-add industrial properties in prime, infill locations,” said Mr. Schwimmer. “Rexford’s expertise in the industrial market, and our approach to creating value with the highest standards of integrity, make us the ideal buyer. We are flexible in our deal structuring, able to transact rapidly and reliably, and are adept at identifying and maximizing the value of all types of industrial properties,” he added.

RIF IV is positioned to acquire over $250 million of industrial product and is off to a strong start with five properties already acquired comprising approximately 300,000 square feet: a 78,689-square-foot building in National City, CA; a 78,506-square-foot building in Riverside, CA; a 71,536-square-foot building in Carlsbad, CA; a 36,825-square-foot building in Carson, CA; and a 32,968-square-foot building in Long Beach, CA. These properties add to Rexford Industrial’s current operation of nearly five million square feet of value-add industrial property in Southern California.


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 nearly 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.

 

REXFORD INDUSTRIAL AND GE REAL ESTATE COMPLETE CREATIVE REFINANCE OF REXFORD INDUSTRIAL FUND I, LLC

Los Angeles, CA, June 13, 2007

Rexford Industrial, LLC, Southern California’s leading, privately held industrial real estate firm, has completed the $68 million refinance of a Rexford Industrial Fund I, LLC (RIF I) portfolio with GE Real Estate’s Strategic Capital Group (SGC).

“Rexford’s commitment to value creation extends beyond acquisition and property repositioning to encompass creative financing that maximizes the economic potential of each asset. This loan was custom crafted by Rexford and GE Real Estate to deliver financing in a flexible package that uniquely achieves Rexford’s key business and investor-related goals,” said Michael Frankel, CFO and partner at Rexford, who was responsible for originating the financing. “Special credit is also due to Chatham Financial, who successfully arranged the debt, and whose structuring expertise proved invaluable,” added Frankel.

This highly flexible loan structure secures fixed-rate pricing for the initial $46 million and favorable variable-rate pricing for the remaining $22 million (which has been effectively fixed in advance through the use of SWAPS), which will allow for capital expenditures and earnout draws through the seven year life of the loan. The entire loan will be held on GE Real Estate’s balance sheet, which also allows Rexford to move properties in and out of the financed pool without defeasance and with nominal friction or administrative costs.

“This creative deal structure allows Rexford to return the vast majority of investors’ invested equity without exceeding conservative levels of leverage on the portfolio, while increasing investors’ quarterly distributions to a level that could exceed 20% annualized return on invested capital,” added Mr. Frankel.

“We are pleased to initiate this relationship with GE, a partner that has demonstrated the entrepreneurial ability to not only help drive our accelerated firm growth, but also to assist Rexford in delivering outstanding value to our investors,” added Howard Schwimmer, Rexford’s Managing Member.

“Rexford Industrial is an experienced local player with a stellar reputation for assessing and optimizing the underlying value of industrial assets in one of the nation’s most desirable and competitive industrial real estate markets in the country,” said Michael Pedone, the SCG Director at GE Real Estate who structured the loan for Rexford. “This is our first transaction with Rexford Industrial and we look forward to providing the firm with other highly structured, customized financing solutions as our relationship grows.”

Since closing Rexford Industrial Fund I in October 2002 and acquiring nearly 1.5 million square feet of value-add industrial properties for the Fund, Rexford has subsequently raised RIF II, RIF III and RIF IV, and currently operates nearly five million square feet of value-add industrial real estate, principally in Southern California. Rexford is focused on creating value through the modernization, re-positioning and re-tenanting of under-utilized and/or mismanaged value-add industrial properties as well as the acquisition and management of well-located core and enhanced core industrial product throughout the Western United States. Rexford is currently acquiring industrial product for its RIF III and RIF IV fund vehicles.

Rexford is a thought leader in industrial real estate. Rexford’s principals have a long and distinguished track record of successful industrial property acquisition, repositioning and disposition, marked by an unmatched, entrepreneurial approach to deal origination and value creation.


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 nearly 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.



About GE Real Estate
GE Real Estate (www.gerealestate.com) is one of the world's premier commercial real estate companies with more than US$59 billion in assets and a presence in 28 countries throughout North America, Europe, Asia, and Australia/New Zealand. Backed by GE's AAA rating, GE Real Estate offers a comprehensive range of capital and investment solutions including equity capital for acquisition or development, as well as fixed and floating rate mortgages for new acquisitions or re-capitalizations of commercial real estate. With a 28% compound annual growth rate since 1993, GE Real Estate is one of the world's fastest growing and most profitable real estate enterprises. This extraordinary record of success grows out of a reputation for collaboration and partnership; a depth of knowledge and experience and a history of building relationships, finding opportunities and opening doors for more than 5,000 owners, builders, borrowers and brokers worldwide.

 

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