Company: FR
Filing Date: 2025-04-17
Form Type: 10-Q
Source: 0000921825-25-000039
Chunk: 89

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-04-17
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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 which will extend the maturity date to August 12, 2026, subject to the satisfaction of certain conditions.(D) At our option, we may extend the maturity pursuant to two six-month extension options, subject to certain conditions. Amounts exclude unamortized debt issuance costs of $9,057 and $713 as of March 31, 2025 and December 31, 2024, respectively, which are included in the line item Prepaid Expenses and Other Assets, Net. Mortgage Loan PayableAs of March 31, 2025, the mortgage loan payable is collateralized by industrial properties with a net carrying value of $30,022. We believe the Operating Partnership and the Company were in compliance with all covenants relating to our mortgage loan as of March 31, 2025.

18

Unsecured Term LoansOn March 18, 2025, we amended and restated our existing $200,000 unsecured term loan (as amended and restated, the "2025 Unsecured Term Loan"). The 2025 Unsecured Term Loan matures on March 17, 2028, and includes two optional one-year extensions, subject to the satisfaction of certain conditions. The 2025 Unsecured Term Loan provides for interest-only payments during the term and bears interest at a variable rate based on SOFR, plus a 10 basis point SOFR adjustment and a credit spread of 85 basis points based on our current credit ratings and consolidated leverage ratio. We have interest rate swaps outstanding with a notional value of $200,000 that fix the SOFR rate component at 0.87% at March 31, 2025 and mature on February 2, 2026. The all-in interest rate at March 31, 2025 is 1.82%. See Note 10 for additional information. The 2025 Unsecured Term Loan may be increased, at our request and subject to willingness of existing or new lenders to fund such increase and other customary conditions, to a maximum of $460,000. Unsecured Credit FacilityOn March 18, 2025, we amended and restated our existing $750,000 revolving credit agreement, increasing the total capacity to $850,000 (as amended and restated, the "Unsecured Credit Facility"). The Unsecured Credit Facility matures on March 16, 2029, and includes two optional six-month extensions, subject to the satisfaction of certain conditions. At March 31, 2025,