CAPRE’s Commercial Real Estate Headlines for March 12, 2020: Rexford Industrial Acquires Ten-Building Industrial Portfolio For $203.2 Million

Check out the latest deals and developments in commercial real estate for March 12, 2020: Rexford Industrial Acquires Ten-Building Industrial Portfolio For $203.2 Million: Rexford Industrial Realty, a real estate investment trust focused on creating value by investing in and operating industrial properties located in Southern California infill markets, today announced the acquisition of a ten-building industrial property portfolio for $203.2 million, including assumed debt. The acquisition was completed through a combination of cash and an UPREIT transaction, whereby the seller contributed a portion of the portfolio value to the Company's operating partnership, Rexford Industrial Realty, L.P. in exchange for a blend of operating partnership units and newly issued convertible preferred operating partnership units. The newly issued Series 2 CPOP Units are non-callable by the Company for five years and feature a $45.00 liquidation preference, 4.0% dividend and 0.7722% conversion premium, all of which are more fully described in the Company's Current Report on Form 8-K filed with the SEC on or about the date of this press release. Logistics Property Co’s CityPark is Scheduled to Deliver in Q4 2020: Logistics Property Company, LLC (LPC), a logistics real estate platform focused on the acquisition, development and management of state-of-the-art logistics properties in key North American markets, announces a project update on CityPark Logistics Center (CityPark), a 97-acre master-planned logistics destination within the Southwest submarket of Houston, in conjunction with its participation in REDNews RE Journals Houston Industrial and Logistics Summit. Situated near…