Insider-turned-outsider sells more shares of industrial REIT
Michael Frankel keeps selling shares of his old REIT. In early July, he proposed the sale of about 59,000 shares of Rexford, a chunk that had a market value of $2 million, per a Securities and Exchange Commission filing. A month earlier, he proposed the sale of about 21,500 shares, valued at more than $750,000. In mid-March — before Laura Clark officially took the corner office post-Elliott stake — he sold more than 23,000 shares, which came to $800,000-plus. That’s more than $3.5 million in the former co-CEO’s pocket in a matter of months, and he’s got plenty more shares. […]This article originally appeared on The Real Deal. Click here to read the full story.
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