Rexford posts $500M loss, says write-downs to blame

Rexford Industrial, months into its Laura Clark-era, posts a $507 million loss — mostly due to write-downs — for the second quarter, compared to a $113 million profit for the same period last year.  The net loss in the second quarter includes about $625 million of impairments, which “primarily reflect certain assets designated for disposition whose expected holding periods were shortened in connection with the company’s increased disposition guidance,” the Brentwood-based real estate investment trust said in its earnings release. Basically, the REIT is selling some real estate sooner than it thought it would, so that real estate is worth […]

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