Rexford Industrial Realty Inc | 5.625% Series C Cumulative Redeemable Preferred Stock (REXR.PRC)
Prospectus excerpt: We are offering 3,000,000 shares of our 5.625% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share, which we refer to in this prospectus supplement as the series C preferred stock. We will pay cumulative dividends on the series C preferred stock from the date of original issue at a rate of 5.625% per annum of the $25.00 liquidation preference per share (equivalent to an annual rate of $1.40625 per share). Dividends on the series C preferred stock will be payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on or about December 31, 2019. The series C preferred stock will rank senior to our common stock with respect to dividend rights and rights upon our liquidation, dissolution or winding up. Generally, we are not allowed to redeem the series C preferred stock prior to September 20, 2024 except in limited circumstances to preserve our status as a real estate investment trust, or REIT, and pursuant to the special optional redemption provision described below. On or after September 20, 2024 we may, at our option, redeem the series C preferred stock, in whole or in part, at any time or from time to time, for cash at a redemption price of $25.00 per share, plus all accrued and unpaid dividends on such series C preferred stock up to, but not including, the redemption date.
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Rexford Industrial Realty is a holding company. Through its subsidiaries, Co. is a self-administered and self-managed real estate investment trust. Through its controlling interest in its subsidiary, Rexford Industrial Realty, L.P., and its subsidiaries, Co. acquires, owns, improves, redevelops, leases and manages industrial real estate primarily located in Southern California infill markets, and from time to time, acquires or provides mortgage debt secured by industrial property. Preferreds: REXR.PRA, REXR.PRB, REXR.PRC Open the REXR Information Page » |
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