Rexford Industrial Sells $1.2 Billion Portfolio to EQT Real Estate
On August 18, 2026, Rexford Industrial Realty (REXR) announced the sale of a $1.2 billion industrial portfolio to an affiliate of EQT Real Estate, marking a significant step in its broader plan to divest non-core assets totaling up to $2 billion. The deal is expected to close by the end of Q3 2026 and brings year-to-date dispositions closed or under contract to approximately $1.5 billion. The company emphasized that these properties have limited long-term value, face competitive supply pressures, carry shorter lease durations, or are leased at above-market rates. CEO Laura Clark stated the move is intended to focus on high-growth assets and improve cash flow performance. Despite ongoing asset sales, Rexford reported a 6.8% increase in Core FFO per diluted share for Q2 2026. However, the portfolio realignment has come at a cost: REXR posted a $506.9 million net loss due to non-cash impairments tied to shortened asset holding periods and declining rental rates. The company now forecasts a full-year net loss per share of between -$1.32 and -$1.27, reversing earlier profit guidance.
Topics: debt management portfolio restructuring REIT share buybacks