Document:

<![CDATA[Fourth Amendment to Purchase & Sale Agreement]]>

 Exhibit 10.5 
 FOURTH AMENDMENT TO PURCHASE AND SALE AGREEMENT 
 THIS FOURTH AMENDMENT TO
PURCHASE AND SALE AGREEMENT (this “Amendment”) is entered into effective as of October 31, 2011, by and between Cornerstone Realty Fund, LLC, a California limited liability company (“Seller”) and Rexford
Industrial Fund V, LP, a Delaware limited partnership (or its assignee, “Purchaser”), with reference to the following facts and circumstances: 
 R E C I T A L S 
 A. Seller and Purchaser previously executed and delivered
that certain Purchase and Sale Agreement, dated September 1, 2011 (the “Original Agreement”) with respect to those certain real properties as more particularly described in the Original Agreement. 

B. Seller and Purchaser previously executed and delivered that certain Amendment to Purchase and Sale Agreement, dated September 30,
2011 (the “First Amendment”). 
 C. Seller and Purchaser previously executed and delivered that certain Second
Amendment to Purchase and Sale Agreement, dated October 4, 2011 (the “Second Amendment”). 
 D. Seller and
Purchaser previously executed and delivered that certain Third Amendment to Purchase and Sale Agreement, dated October 11, 2011 (the “Third Amendment”). 
 E. Seller and Purchaser desire to modify the Agreement as set forth herein. 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Seller and Purchaser hereby agree as follows: 
  

	1)	Defined Terms. Unless otherwise defined herein, capitalized terms used in this Amendment shall have the meanings ascribed to such terms in the Original
Agreement, the First Amendment, the Second Amendment and the Third Amendment. From and after the date of this Amendment, all references to the “Agreement” in the Original Agreement, the First Amendment, the Second Amendment, the
Third Amendment and this Amendment shall be deemed references to the Original Agreement as modified by the First Amendment, the Second Amendment, Third Amendment and this Amendment. 

 

	2)	Property Inspection Period. The Property Inspection Period shall be extended to November 4, 2011, but only for environmental issues concerning the Zenith
property located in Glenview, IL. 

  

	3)	Additional Deposit. The Additional Deposit shall be due on November 8, 2011. 

 

	4)	Closing. The Closing shall be on or before November 18, 2011. 

  

	5)	Full Force and Effect; No Further Changes. Except as expressly modified by this Amendment, the Third Amendment, the Second Amendment, and the First Amendment,
the Original Agreement remains in full force and effect without modification or impairment and any and all previous terminations of the Agreement are hereby rescinded. 

 

	6)	Counterparts; Facsimile. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which shall constitute
one and the same document. Any party may transmit its signature to this Amendment by facsimile of PDF, and such facsimile or PDF transmission shall constitute an original signature for all purposes. 

(Signature Page Follows) 

 IN WITNESS WHEREOF, Seller and Purchaser have duly executed and delivered this Amendment as
of the effective date first stated above. 
  

																			
	“PURCHASER”	 		 	“SELLER”
			
	REXFORD INDUSTRIAL FUND V, LP,	 		 	CORNERSTONE REALTY FUND, LLC, a
	a Delaware limited partnership	 		 	California limited liability company
					
	By:	 	REXFORD FUND V MANAGER, LLC,	 		 	By:	 	CORNERSTONE INDUSTRIAL
		 	a Delaware limited liability company,	 		 		 	PROPERTIES, LLC, a California limited
		 	Its Manager	 		 		 	liability company,
		 		 		 		 	Its Managing Member
							
		 	By:	 	REXFORD SPONSOR LLC,	 		 		 	By:	 	CORNERSTONE VENTURES,
		 		 	a Delaware limited liability	 		 		 		 	INC, a California corporation,
		 		 	company, Its Manager	 		 		 		 	Its Managing Member
								
		 		 	By:	 	 

	 		 		 	By:	 	 

		 		 		 	Name:	 	 Michael Frankel
	 		 		 		 	Name:	 	 TERRY ROUSSEL

		 		 		 	Its:	 	 Manager
	 		 		 		 	Its:	 	 CEOFifth Amendment to Purchase and Sale Agreement

 Exhibit 10.6 
 FIFTH AMENDMENT TO PURCHASE AND SALE AGREEMENT 
 THIS FIFTH AMENDMENT TO
PURCHASE AND SALE AGREEMENT (this “Amendment”) is entered into effective as of November 4, 2011, by and between Cornerstone Realty Fund, LLC, a California limited liability company (“Seller”) and Rexford
Industrial Fund V, LP, a Delaware limited partnership (or its assignee, “Purchaser”), with reference to the following facts and circumstances: 
 R E C I T A L S 
 A. Seller and Purchaser previously executed and delivered
that certain Purchase and Sale Agreement, dated September 1, 2011 (the “Original Agreement”) with respect to those certain real properties as more particularly described in the Original Agreement. 

B. Seller and Purchaser previously executed and delivered that certain Amendment to Purchase and Sale Agreement, dated September 30,
2011 (the “First Amendment”). 
 C. Seller and Purchaser previously executed and delivered that certain Second
Amendment to Purchase and Sale Agreement, dated October 4, 2011 (the “Second Amendment”). 
 D. Seller and
Purchaser previously executed and delivered that certain Third Amendment to Purchase and Sale Agreement, dated October 11, 2011 (the “Third Amendment”). 
 E. Seller and Purchaser previously executed and delivered that certain Fourth Amendment to Purchase and Sale Agreement, dated October 31, 2011 (the “Fourth Amendment”). 

F. Seller and Purchaser desire to modify the Agreement as set forth herein. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Seller and Purchaser
hereby agree as follows: 
  

	1)	Defined Terms. Unless otherwise defined herein, capitalized terms used in this Amendment shall have the meanings ascribed to such terms in the Original
Agreement, the First Amendment, the Second Amendment, the Third Amendment and the Fourth Amendment. From and after the date of this Amendment, all references to the “Agreement” in the Original Agreement, the First Amendment, the
Second Amendment, the Third Amendment, the Fourth Amendment and this Amendment shall be deemed references to the Original Agreement as modified by the First Amendment, the Second Amendment, Third Amendment, the Fourth Amendment and this Amendment.

  

	2)	Property Inspection Period. The Property Inspection Period shall be extended to November 8, 2011, but only for environmental issues concerning the Zenith
property located in Glenview, IL. 

  

	3)	Additional Deposit. The Additional Deposit shall be due on November 10, 2011. 

 

	4)	Closing. The Closing shall be on or before November 22, 2011. 

  

	5)	Full Force and Effect; No Further Changes. Except as expressly modified by this Amendment, the Fourth Amendment, the Third Amendment, the Second Amendment, and
the First Amendment, the Original Agreement remains in full force and effect without modification or impairment and any and all previous terminations of the Agreement are hereby rescinded. 

 

	6)	Counterparts; Facsimile. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which shall constitute
one and the same document. Any party may transmit its signature to this Amendment by facsimile of PDF, and such facsimile or PDF transmission shall constitute an original signature for all purposes. 

(Signature Page Follows) 

 IN WITNESS WHEREOF, Seller and Purchaser have duly executed and delivered this Amendment as
of the effective date first stated above. 
  

																									
	“PURCHASER”	 		 		 	“SELLER”
				
	 REXFORD INDUSTRIAL FUND V, LP,
 a Delaware limited partnership
	 		 		 	 CORNERSTONE REALTY FUND, LLC,
 a California limited liability company

				
	 By: REXFORD FUND V MANAGER, LLC,
 a Delaware limited liability company,
	 		 		 	 By: CORNERSTONE INDUSTRIAL PROPERTIES, LLC,
 a California limited liability company,

		 		 	Its Manager	 		 		 		 	Its Managing Member
									
		 		 	By:	 	 REXFORD SPONSOR LLC,

a Delaware limited liability company, Its Manager
	 		 		 		 	By:	 	 CORNERSTONE VENTURES, INC,
 a California corporation, Its Managing Member

											
		 		 		 	By:	 	 

	 		 		 		 		 	By:	 	 

		 		 		 		 	Name:	 	 Howard Schwimmer
	 		 		 		 		 		 	Name:	 	 TERRY ROUSSEL

		 		 		 		 	Its:	 	 Manager
	 		 		 		 		 		 	Its:	 	 CEOSixth Amendment to Purchase and Sale Agreement

 Exhibit 10.7 
 SIXTH AMENDMENT TO PURCHASE AND SALE AGREEMENT 
 THIS SIXTH AMENDMENT TO
PURCHASE AND SALE AGREEMENT (this “Amendment”) is entered into effective as of November 8, 2011, by and between Cornerstone Realty Fund, LLC, a California limited liability company (“Seller”) and Rexford
Industrial Fund V, LP, a Delaware limited partnership (or its assignee, “Purchaser”), with reference to the following facts and circumstances: 
 R E C I T A L S 
 A. Seller and Purchaser previously executed and delivered
that certain Purchase and Sale Agreement, dated September 1, 2011 (the “Original Agreement”) with respect to those certain real properties as more particularly described in the Original Agreement. 

B. Seller and Purchaser previously executed and delivered that certain Amendment to Purchase and Sale Agreement, dated September 30,
2011 (the “First Amendment”). 
 C. Seller and Purchaser previously executed and delivered that certain Second
Amendment to Purchase and Sale Agreement, dated October 4, 2011 (the “Second Amendment”). 
 D. Seller and
Purchaser previously executed and delivered that certain Third Amendment to Purchase and Sale Agreement, dated October 11, 2011 (the “Third Amendment”). 
 E. Seller and Purchaser previously executed and delivered that certain Fourth Amendment to Purchase and Sale Agreement, dated October 31, 2011 (the “Fourth Amendment”). 

F. Seller and Purchaser previously executed and delivered that certain Fifth Amendment to Purchase and Sale Agreement, dated
November 4, 2011 (the “Fifth Amendment”) 
 G. Seller and Purchaser desire to modify the Agreement as set
forth herein. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, Seller and Purchaser hereby agree as follows: 
  

	1)	Defined Terms. Unless otherwise defined herein, capitalized terms used in this Amendment shall have the meanings ascribed to such terms in the Original
Agreement, the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment and the Fifth Amendment. From and after the date of this Amendment, all references to the “Agreement” in the Original Agreement, the
First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment and this Amendment shall be deemed references to the Original Agreement as modified by the First Amendment, the Second Amendment, Third Amendment,
the Fourth Amendment, the Fifth Amendment and this Amendment. 

  

	2)	Property Inspection Period. The Property Inspection Period shall be extended to November 14, 2011, but only for environmental issues concerning the Zenith
property located in Glenview, IL. 

  

	3)	Additional Deposit. The Additional Deposit shall be due on November 16, 2011. 

 

	4)	Closing. The Closing shall be on or before November 29, 2011. 

  

	5)	Full Force and Effect; No Further Changes. Except as expressly modified by this Amendment, the Fifth Amendment, the Fourth Amendment, the Third Amendment, the
Second Amendment, and the First Amendment, the Original Agreement remains in full force and effect without modification or impairment and any and all previous terminations of the Agreement are hereby rescinded. 

 

	6)	Counterparts: Facsimile. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which
shall constitute one and the same document. Any party may transmit its signature to this Amendment by facsimile of PDF, and such facsimile or PDF transmission shall constitute an original signature for all purposes. 

 IN WITNESS WHEREOF, Seller and Purchaser have duly executed and delivered this Amendment as
of the effective date first stated above. 
  

																							
	“PURCHASER”	 		 	“SELLER”
			
	 REXFORD INDUSTRIAL FUND V, LP,
 a Delaware limited partnership
	 		 	 CORNERSTONE REALTY FUND, LLC,
 a California limited liability company

			
	 By: REXFORD FUND V MANAGER, LLC,
 a Delaware limited liability company,
	 		 	 By: CORNERSTONE INDUSTRIAL PROPERTIES, LLC,
 a California limited liability company,

		 		 	Its Manager	 		 		 	Its Managing Member
								
		 		 	By:	 	 REXFORD SPONSOR LLC,

a Delaware limited liability company, Its Manager
	 		 		 	By:	 	 CORNERSTONE VENTURES, INC,
 a California corporation, Its Managing Member

										
		 		 		 	By:	 	 

	 		 		 		 	By:	 	 

		 		 		 		 	Name:	 	 Howard Schwimmer
	 		 		 		 		 	Name:	 	 Sharon Kaiser

		 		 		 		 	Its:	 	 Manager
	 		 		 		 		 	Its:	 	 CFO

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