Rexford Industrial Realty completed the previously announced sale of a 5.2 million-square-foot Southern California logistics portfolio to an affiliate of EQT Real Estate for approximately $1.2 billion. EQT described the assets as 32 buildings across Los Angeles, Orange County, the San Gabriel Valley, South Bay and Inland Empire West, while Rexford's transaction announcement characterized the portfolio as 22 industrial properties, creating a discrepancy in the property count. The portfolio was 96% leased to 36 tenants, with a weighted average remaining lease term of 2.7 years. More than half of the space is in infill locations within about 25 miles of the Los Angeles/Long Beach port complex, while 46% is concentrated along major freight corridors in Inland Empire West. The sale is part of Rexford's $2.0 billion non-core asset realignment. Rexford said it had completed $1.5 billion of dispositions year to date, used proceeds to repay debt and repurchase shares, reaffirmed its 2026 guidance and estimated year-end 2026 net debt to Adjusted EBITDAre at 3.5x. EQT said the portfolio's port access, supply-constrained markets and tenant diversification support its focus on Southern California logistics assets.