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Rexford Industrial amends term loan

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Rexford Industrial amends term loan

Industrial real estate investment trust Rexford Industrial Realty Inc. extended the maturity date of its term loan to Aug. 1, 2023, from Aug. 1, 2019.

In addition, the amended term loan decreases the annual interest rate to London Interbank Offered Rate plus 1.70% from LIBOR plus 1.90%; provides for one 24-month extension option, subject to certain conditions; and amends the term loan repayment schedule by adding 36 months of interest-only payments, followed by equal monthly payments of principal, plus applicable interest.