Rexford Industrial Realty, Inc. (REXR) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

April 20, 2022 1:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Greetings, and welcome to the Rexford Industrial Realty First Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the call over to David Lanzer, General Counsel. Thank you. You may begin.

David Lanzer

We thank you for joining us for Rexford Industrial's first quarter 2022 earnings conference call. In addition to the press release distributed yesterday after market close, we posted a supplemental package and investor presentation in the Investor Relations section on our website at www.rexfordindustrial.com.

On today's call, management's remarks and answers to your questions may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address matters that are subject to risks and uncertainties that may cause actual results to differ from those discussed today. For more information about these risk factors, we encourage you to review our 10-K and other SEC filings. Rexford Industrial assumes no obligation to update any forward-looking statements in the future.

And in addition, certain financial information presented on this call represents non-GAAP financial measures. Our earnings release and supplemental package present GAAP reconciliations and an explanation of why such non-GAAP financial measures are useful to investors.

Today's conference call is hosted by Rexford Industrial's Co-Chief Executive Officers, Michael Frankel and Howard Schwimmer, together with Chief Financial Officer, Laura Clark. They will make some prepared remarks, and then we will open the call for your questions.

Now, I will turn the call over to Michael.

Michael Frankel

Thank you, David, and thank you, everyone, for joining our Rexford Industrial first quarter 2022 earnings call. We hope you and your families are well. I'll provide some brief remarks followed by Howard, who will discuss our transaction activity, and then Laura will provide an update on our financial metrics and guidance.

As we start the new year, our exceptional first quarter performance demonstrates the extraordinary tenant demand that continues to strengthen even beyond last year's historic levels. Rexford continues to differentiate itself as the nation's fastest-growing and strongest performing industrial REIT. Our portfolio now comprises over 38 million square feet of industrial property, 100% located within Southern California infill markets, the strongest industrial market in the nation and the fourth largest industrial market in the world.