Investments in Real Estate (Tables)

12 Months Ended

Dec. 31, 2025

Investments, All Other Investments [Abstract]

Summary of Acquired Wholly Owned Property Acquisitions

The following table summarizes the wholly-owned properties we acquired during the year ended December 31, 2024:


Property	Submarket	Date of Acquisition	Rentable Square Feet	Number of Buildings	Contractual Purchase Price(1) (in thousands)
5000 & 5010 Azusa Canyon Road	Los Angeles - San Gabriel Valley	1/31/2024	233,984	2	$	84,000
Blackstone Industrial Assets(2)	Various	3/28/2024	3,008,578	48	996,800
4422 Airport Drive	San Bernardino - Inland Empire West	4/5/2024	88,283	1	26,725
1901 Rosslynn Avenue	Orange County - North	5/10/2024	278,572	1	94,250
16203-16233 Arrow Highway	Los Angeles - San Gabriel Valley	5/23/2024	134,542	4	48,500
950 West 190th Street	Los Angeles - South Bay	7/22/2024	188,545	1	41,290
12900 Alondra Boulevard	Los Angeles - Mid-Counties	9/20/2024	82,660	1	19,200
13201 Dahlia Street	San Bernardino - Inland Empire West	10/15/2024	278,650	1	70,061
2501 Rosecrans Avenue	Los Angeles - South Bay	12/6/2024	300,217	1	137,200
Total 2024 Property Acquisitions			4,594,031	60	$	1,518,026

(1)Represents the gross contractual purchase price before certain credits, prorations, closing costs and other acquisition related costs. Total capitalized closing costs and acquisition related costs, net of certain credits, not included in the gross contractual purchase price in the table above, were approximately $3.7 million.

(2)Represents the acquisition of 48 properties pursuant to three separate transactions with three Blackstone Real Estate entities.

Summary of Fair Value of Amounts Recognized

The following table summarizes amounts allocated to each major class of asset and liability on a relative fair value basis for the acquisitions noted in the table above, as of the date of each acquisition (in thousands):


	2024
Assets:
Land	$	1,020,690
Buildings and improvements	424,579
Tenant improvements	4,818
Acquired lease intangible assets(1)	103,795

Other acquired assets(2)	2,033
Total assets acquired	$	1,555,915

Liabilities:
Acquired lease intangible liabilities(3)	$	32,119



Other assumed liabilities(2)	17,803
Total liabilities assumed	$	49,922
Net assets acquired	$	1,505,993

(1)Acquired lease intangible assets are comprised of $77.0 million of in-place lease intangibles with a weighted average amortization period of 4.6 years and $26.8 million of above-market lease intangibles with a weighted average amortization period of 4.2 years.

(2)Includes other working capital assets acquired and liabilities assumed at the time of acquisition, including prorations.

(3)Represents below-market lease intangibles with a weighted average amortization period of 11.7 years.

Summary of the Properties Sold

The following table summarizes information related to the properties that we sold during the years ended December 31, 2025, 2024, and 2023 (dollars in thousands).


Property	Submarket	Date of Disposition	Rentable Square Feet	Contractual Sales Price(1) (in thousands)		Gain Recorded (in thousands)
2025 Dispositions:
1055 Sandhill Avenue	Los Angeles - South Bay	3/28/2025	127,775	$	52,450	$	13,157
20 Icon	Orange - South	4/03/2025	102,299	50,875		30,625
2270 Camino Vida Roble	San Diego - North County	5/23/2025	106,311	30,700		13,736
1332 & 1336 Rocky Point Drive	San Diego - North County	7/18/2025	51,081	14,715		7,670
8542 Slauson Avenue	Los Angeles - Central	8/06/2025	24,679	17,300		6,380
15715 Arrow Highway	Los Angeles - San Gabriel Valley	9/04/2025	76,000	21,585		14,533
600-650 South Grand Avenue	Orange - South	12/22/2025	101,389	29,900		19,931
			589,534	217,525		106,032
2024 Dispositions:
2360-2364 East Sturgis Road	Ventura	4/16/2024	49,641	$	10,000	$	6,261
6423-6431 & 6407-6119 Alondra Boulevard	Los Angeles - South Bay	5/03/2024	30,224	7,600		5,077
15401 Figueroa Street	Los Angeles - South Bay	5/07/2024	38,584	10,225		4,203
8210 Haskell Avenue	Los Angeles - San Fernando Valley	5/17/2024	26,229	9,200		727
2553 Garfield Avenue	Los Angeles - Central	8/20/2024	25,615	7,275		1,745
			170,293	44,300		18,013
2023 Dispositions:
8101-8117 Orion Ave.	Los Angeles - San Fernando Valley	3/28/2023	48,394	$	17,000	$	12,133
3720-3750 W. Warner Avenue	Orange County Airport	12/05/2023	38,643	11,275		6,868
Total			87,037	$	28,275	$	19,001

(1)Represents the gross contractual sales price before commissions, prorations, credits and other closing costs.

Rexford Industrial Realty, Inc. 10-K