Company: FR
Filing Date: 2025-04-17
Form Type: 10-Q
Source: 0000921825-25-000039
Chunk: 70

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-04-17
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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,046 Equity in FFO from Joint Venture Attributable to the Noncontrolling Interest(147)(152)Amortization of Debt Issuance Costs963 912 Depreciation of Corporate FF&E171 187 Gain on Sale of Real Estate(6,844)(30,852)Gain on Sale of Real Estate from Joint Venture(3,305)(132)Income Tax Provision - Excluded from FFO5,736 928 General and Administrative15,897 11,781 Equity in FFO from Joint Venture, Net of Noncontrolling Interest(1,081)(1,118)Net Operating Income$128,546 $114,832 Non-Same Store Net Operating Income (3,764)410 Same Store Net Operating Income Before Same Store Adjustments $124,782 $115,242 Straight-line Rent(2,500)(3,890)Above (Below) Market Lease Amortization(550)(743)Lease Termination Fees(24)(68)Same Store Net Operating Income (Cash Basis without Termination Fees) $121,708 $110,541 

Subsequent Events

Subsequent to March 31, 2025, we sold one industrial property for a sales price of $1.9 million, excluding transaction costs. 

42

Item 3.Quantitative and Qualitative Disclosures About Market Risk

Response to this item is included in Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations" above.

Item 4.Controls and Procedures

First Industrial Realty Trust, Inc.

The Company's management, including its principal executive officer and principal financial officer, have conducted an evaluation of the effectiveness of the Company's disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this report. Based on the evaluation of these controls and procedures required by Exchange Act Rules 13a-15(b) or 15d-15(b), the Company's principal executive officer and principal financial officer have concluded that as of the end of such period the Company's disclosure controls and procedures were effective. 

There has been no change in the Company's internal control over financial reporting that occurred during the fiscal quarter covered by this report that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.

First Industrial, L.P.

The Company's management,