Rexford Industrial Realty, Inc.

rexfordindustrial.com

What Do They Do?

Owns, develops, leases and manages industrial properties for businesses in Southern California, and sometimes provides loans secured by industrial property.

How Do They Make Money?

Tenants pay rent for leased industrial space, generally through leases that run over time, and reimburse certain property expenses. The company also earns fees and commissions for managing properties and arranging leases, and interest on mortgage loans.

FY2025 revenue

Who Are Their Customers?

Businesses lease industrial space directly from the company; the company also provides property management and leasing services to related-party property owners.

Do Revenues Turn Into Profits?

Yes. It kept 21 cents of every revenue dollar as net income in FY2025.

Net income, FY2025

21% of revenue

▼ −23% vs FY2024 ($273.8M, 29%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Sep 30, 2026

Revenue: ▼ −6%; vs $253.2M in Q3 FY2025
Net income: ▼ −81%; vs $89.9M in Q3 FY2025

Aug 18, 2026 Agreed to sell a portfolio of industrial properties for approximately $1.2 billion The cash sale is expected to close by September 30, 2026, subject to customary closing conditions.
Jul 23, 2026 Raised 2026 Core FFO per-share guidance and planned $1.5–$2.0 billion in dispositions The company said the planned portfolio realignment would include non-core asset sales.

Growing. Revenue grew 2.2x in 4 years, from $452.2M in FY2021 to $1B in FY2025, about 22% a year.

More development and repositioning The latest report describes selective construction of new industrial-use buildings alongside repositioning; the older report describes repositioning and redevelopment.

Mortgage debt investments The latest report specifies mortgage debt secured by industrial property suitable for industrial development as well as industrial-zoned property; the older report describes mortgage debt secured by industrial property.

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