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Rexford Industrial Realty to Sell $1.2 Billion Industrial Portfolio to EQT Real Estate Affiliate

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Rexford Industrial Realty (REXR) said Tuesday that it has signed an agreement to sell an industrial portfolio to an affiliate of EQT Real Estate for about $1.2 billion.

The deal is expected to close by the end of Q3, the company said.

Rexford said the sale is part of its plan to sell $2 billion worth of non-core assets that consist of properties that do not align with its strategy.

The company said it will use the net proceeds toward repaying debt maturing in 2027, as well as repurchasing common stock under its $1 billion share buyback program.

Price: $36.30, Change: $+0.45, Percent Change: +1.26%

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