India, Aug. 18 -- Rexford Industrial Realty (REXR) has entered into a definitive agreement to sell an industrial portfolio to an affiliate of EQT Real Estate for approximately $1.2 billion. The portfolio transaction is part of Rexford Industrial's previously announced portfolio realignment. Rexford Industrial plans to use net proceeds from the portfolio transaction to support its capital allocation priorities, including the repayment of debt maturing in 2027, opportunistic repurchases of common stock under the $1.0 billion share repurchase program and continued investment in the internal repositioning and development projects.
The company said it remains in active negotiations on additional disposition opportunities and will provide furthe...