Rexford draws $90 million under revolver to acquire business park

By Marisa Wong

Morgantown, W.Va., May 25 – Rexford Industrial Realty, Inc. borrowed $90 million under its revolving credit facility on May 22 to partially fund its acquisition of an industrial business park, the Safari Business Center in Ontario, Calif., according to an 8-K filed Thursday with the Securities and Exchange Commission.

With this drawdown, the total amount of borrowings outstanding under the revolver is $138 million.

In addition to the $350 million revolver, Rexford’s second amended and restated credit agreement dated Feb. 15 includes a $100 million term loan.

Citibank, NA is the administrative agent for the credit facilities.

Rexford is a Los Angeles-based industrial real estate firm.

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