LOS
ANGELES, Nov. 21,
2022 /PRNewswire/ -- Rexford Industrial Realty, Inc.
(the "Company," "Rexford Industrial," or "Rexford")
(NYSE: REXR), a real estate investment trust focused on creating
value by investing in and operating industrial properties located
throughout infill Southern
California, announced that Fitch Ratings ("Fitch") upgraded
Rexford Industrial's investment grade issuer and senior unsecured
ratings. Fitch upgraded the Company's ratings to BBB+ from BBB with
a stable outlook.
"Fitch's rating upgrade recognizes Rexford
Industrial's focused operating strategy and disciplined
approach to value creation within infill Southern California, the nation's largest and
most desirable industrial market," stated Laura Clark, Chief Financial Officer of the
Company. "Our low-leverage, fortress-like balance sheet and
strong liquidity profile enable Rexford's unique access to
accretive growth opportunities that differentiate our ability to
drive shareholder value."
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and
redeveloping industrial properties throughout infill Southern California, the world's fourth
largest industrial market and consistently the highest-demand,
lowest supply market in the nation. The Company's highly
differentiated strategy enables internal and external growth
opportunities through its proprietary value creation and asset
management capabilities. Rexford Industrial's high-quality,
irreplaceable portfolio comprises 346 properties with approximately
41.8 million rentable square feet occupied by a stable and diverse
tenant base. Structured as a real estate investment trust (REIT)
listed on the New York Stock Exchange under the ticker "REXR,"
Rexford Industrial is an S&P MidCap 400 Index member. For more
information, please visit www.rexfordindustrial.com.
Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of the federal securities laws, which are based on
current expectations, forecasts and assumptions that involve risks
and uncertainties that could cause actual outcomes and results to
differ materially. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar expressions concerning
matters that are not historical facts. In some cases, you can
identify forward-looking statements by the use of forward-looking
terminology such as "may," "will," "should," "expects," "intends,"
"plans," "anticipates," "believes," "estimates," "predicts," or
"potential" or the negative of these words and phrases or similar
words or phrases which are predictions of or indicate future events
or trends and which do not relate solely to historical matters.
While forward-looking statements reflect the Company's good faith
beliefs, assumptions and expectations, they are not guarantees of
future performance. For a further discussion of these and other
factors that could cause the Company's future results to differ
materially from any forward-looking statements, see the reports and
other filings by the Company with the U.S. Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for
the year ended December 31,
2021, and the Company's most recent Form 10-Q. The Company
disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying
assumptions or factors, of new information, data or methods, future
events or other changes.
Contact:
Aric Chang
Senior Vice President, Investor Relations and Capital Markets
310.734.6952
achang@rexfordindustrial.com
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SOURCE Rexford Industrial Realty, Inc.