Rexford Industrial Realty buys properties for $1 bln from Blackstone Real Estate (updated)

Blackstone Real Estate Income Trust

28/03/2024 20:31

(Adds details in paragraphs 2, 3)
       March 28 (Reuters) - Rexford Industrial Realty  REXR.N ,
a real estate investment trust (REIT), said on Thursday it had
acquired industrial properties for $1 billion from Blackstone
Real Estate  BX.N . 
    Rexford has acquired about 3 million square feet of
industrial properties located in Southern California for about
$332 per square foot on average.
        The investment was funded using proceeds from Rexford
Industrial's exchangeable senior note offerings and cash on
hand.
  

 (Reporting by Aishwarya Jain in Bengaluru; Editing by Alan
Barona)
 ((Aishwarya.Jain@thomsonreuters.com;))