The acquisition encompasses 32 buildings strategically positioned across Southern California. EQT reported that the properties currently maintain a 96% occupancy rate, hosting a diverse array of tenants. The firm intends to leverage this footprint to capitalize on the sustained demand for industrial space near major shipping gateways.

For Rexford Industrial Realty, the divestment serves as a central pillar of its broader capital realignment strategy. The company is actively shedding $2 billion in noncore assets to strengthen its balance sheet. With this latest transaction, Rexford has successfully offloaded $1.5 billion worth of property year-to-date, accelerating its push to optimize its holdings.