Company: FR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000921825-25-000019
Chunk: 365

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 11
Chunk 365
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5,163 6,826 5,673 12,499 — N/ALand ParcelsLand Parcels— 412,724 9,378 64,235 408,574 77,763 486,337 597 Total$9,643 $1,805,288 $1,370,825 $2,678,843 $1,796,339 $4,058,617 $5,854,956 $1,089,797 

117

FIRST INDUSTRIAL REALTY TRUST, INC. AND FIRST INDUSTRIAL, L.P.SCHEDULE III: REAL ESTATE AND ACCUMULATED DEPRECIATIONAs of December 31, 2024NOTES:(a)See description of encumbrances in Note 4 to the Consolidated Financial Statements. For purposes of this schedule the total principal balance of a mortgage loan payable that is collateralized by a pool of properties is allocated among the properties in the pool based on each property's carrying balance.(b)Depreciation is computed based upon the following estimated lives:Buildings and Improvements3 to 50 yearsLand Improvements4 to 25 yearsTenant Improvements, Leasehold ImprovementsShorter of Useful Life or Terms of Related Lease  At December 31, 2024, the aggregate cost of land and buildings and equipment, excluding construction in progress, for federal income tax purpose was approximately $5.4 billion.The changes in investment in real estate for the three years ended December 31, are as follows:  202420232022 (In thousands)Balance, Beginning of Year$5,714,080 $5,343,039 $4,646,444 Acquisition of Real Estate Assets78,123 133,936 312,841 Construction Costs and Improvements165,320 300,226 496,190 Disposition of Real Estate Assets(85,335)(44,665)(90,762)Write-off of Fully Depreciated and Other Assets(17,232)(18,456)(21,674)Balance, End of Year Including Real Estate Held for Sale$5,854,956 $5,714,080 $5,343,039 Real Estate Held for Sale (A)(8,564)— — Balance, End of Year Excluding Real Estate Held for Sale$5,846,392 $5