Rexford Industrial Reports No Impacts to Business from the Wildfires in Los Angeles County

Rhea-AI Summary

Rexford Industrial Realty (NYSE: REXR) has reported that its properties have not been affected by the recent Los Angeles County wildfires. The company, which specializes in industrial properties throughout infill Southern California, does not expect any negative impacts on its operating results or financial condition due to these events.

The company's Co-CEOs, Michael Frankel and Howard Schwimmer, confirmed that all members of the Rexford team are safe and expressed their commitment to supporting local communities during recovery and rebuilding efforts.

Positive

• No damage reported to company properties from wildfires
• No anticipated negative impact on operating results or financial condition

Negative

• None.

LOS ANGELES, Jan. 10, 2025 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located throughout infill Southern California, today reports no damage to its properties and does not anticipate unfavorable impacts to the Company's operating results or financial condition due to the wildfires in Los Angeles County.

"Our hearts go out to all affected by these devastating wildfires," stated Michael Frankel and Howard Schwimmer, Co-Chief Executive Officers of the Company. "We are prioritizing the care of our employees, their family members and the larger community and are fortunate all members of the Rexford family are safe. At the same time, we are committed to supporting our local communities as recovery and rebuilding efforts begin."

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 424 properties with approximately 50.5 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, 2023. 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:

Investorrelations@rexfordindustrial.com

View original content:https://www.prnewswire.com/news-releases/rexford-industrial-reports-no-impacts-to-business-from-the-wildfires-in-los-angeles-county-302348377.html

SOURCE Rexford Industrial Realty, Inc.

FAQ

How have the Los Angeles wildfires affected Rexford Industrial's properties (REXR)?

Rexford Industrial has reported no damage to its properties from the Los Angeles County wildfires and does not anticipate any unfavorable impacts to its operating results or financial condition.

What is Rexford Industrial's (REXR) response to the 2025 Los Angeles wildfires?

Rexford Industrial has prioritized the safety of its employees and their families, confirmed all team members are safe, and committed to supporting local communities in their recovery and rebuilding efforts.

Will the 2025 Los Angeles wildfires impact Rexford Industrial's (REXR) financial performance?

According to the company's statement, Rexford Industrial does not anticipate any unfavorable impacts to its operating results or financial condition due to the wildfires.

Are any of Rexford Industrial's (REXR) Southern California properties damaged by the wildfires?

No, Rexford Industrial has reported that none of its properties in Southern California have sustained damage from the wildfires.