Rexford Industrial Realty, Inc. (NYSE: REXR) has entered into a definitive agreement to sell an industrial portfolio to an affiliate of EQT Real Estate for approximately $1.2 billion.
The transaction is anticipated to close by the end of the third quarter of 2026, pending customary closing conditions.
The 2027 cash NOI yield is projected at 5.5 percent, taking into account the expected roll-down of above-market in-place rents and anticipated moveouts.
Rexford Industrial plans to utilize the net proceeds from this transaction to support its capital allocation priorities.
"This transaction is a significant step in our portfolio realignment and underscores our disciplined approach to capital allocation," said Laura Clark, Chief Executive Officer. "By strategically recycling capital from select non-core assets, we are concentrating our portfolio around the properties we believe offer the strongest long-term cash flow growth and value creation opportunity. "