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 […]This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
How to Make a Small Kitchen Feel Bigger, According to Interior Designers
Public Art Company gives its LA studio a "muppets on acid" interior
Measure ULA tax forces homeowners to think twice about selling
A Designer Couple Creates a New York City Apartment Where Their Guests Can Stay For Months
Eight unique patios that beckon to the outdoors
Athens apartment features "fluid layout" that adapts to houseguests
NFL Star Myles Garrett Is Asking $2.1 Million for His Ohio Home
See Inside Joni Mitchell’s Former Malibu Beach House, Now Listed for $27 Million
Unfold Projects returns mid-century California residence to a "light-filled, organic oasis"
Rexford jacks sell-off target up to $2B
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
26895 Aliso Creek Rd, B-603, Aliso Viejo, California, 92656, USA