Rexford Sells $1.2B Industrial Portfolio to EQT, Hitting Disposition Target
REXR is trading near its 52-week low of $32.14 (12% above the low).
Summary
Rexford Industrial has entered into a definitive agreement to sell a $1.2 billion industrial portfolio to an affiliate of EQT Real Estate, with closing expected by the end of Q3 2026. The 2027 cash NOI yield is estimated at 5.5%, reflecting anticipated roll-down of above-market rents and moveouts. This transaction brings year-to-date dispositions closed or under contract to $1.5 billion, positioning the company within its full-year guidance range of $1.5 to $2.0 billion. The sale is part of the previously announced $2.0 billion portfolio realignment of non-core assets. Proceeds will be used for debt repayment, share repurchases under the $1.0 billion buyback program, and internal repositioning projects. The company reaffirmed its 2026 guidance.
At the time of this announcement, REXR was trading at $35.86 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $8B. The 52-week trading range was $32.14 to $44.38. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: PR Newswire.