Exhibit 12.1
REXFORD INDUSTRIAL REALTY, INC.
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
| | Rexford
Industrial
Realty, Inc | | | Rexford Industrial Realty, Inc. Predecessor | |
| | Period from
July 24, 2013 to
December 31, 2013 | | | Period from
January 1, 2013
to July 23, 2013 | | | Year ended
December 31, 2012 | | | Year ended
December 31, 2011 | |
EARNINGS | | | | | | | | | | | | | | | | |
Add: | | | | | | | | | | | | | | | | |
Loss before equity in income from unconsolidated real estate entities | | $ | (1,102,000 | ) | | $ | (7,279,000 | ) | | $ | (8,436,000 | ) | | $ | (7,619,000 | ) |
Fixed charges (See below) | | | 1,791,373 | | | | 9,415,287 | | | | 16,950,268 | | | | 17,535,424 | |
Subtract: | | | | | | | | | | | | | | | | |
Capitalized interest | | | - | | | | - | | | | - | | | | - | |
Earnings (loss) | | | 689,373 | | | | 2,136,287 | | | | 8,514,268 | | | | 9,916,424 | |
FIXED CHARGES (SEE BELOW) | | | | | | | | | | | | | | | | |
Interest expense | | | 1,763,000 | | | | 9,395,000 | | | | 16,875,000 | | | | 17,466,000 | |
Capitalized interest | | | - | | | | - | | | | - | | | | - | |
Rental expense at computed interest factor (1) | | | 28,373 | | | | 20,287 | | | | 75,268 | | | | 69,424 | |
Total fixed charges | | $ | 1,791,373 | | | $ | 9,415,287 | | | $ | 16,950,268 | | | $ | 17,535,424 | |
Consolidated ratio of earnings (loss) to fixed charges | | | 0.38 | | | | 0.23 | | | | 0.50 | | | | 0.57 | |
(1) Amounts represent those portions of rent expense (one-third) that are reasonable approximations of interest costs.
