Company: FR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000921825-25-000019
Chunk: 320

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 11
Chunk 320
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istributions*(3,065)(2,945)(6,010)Net Income*3,174 3,049 6,223 Incentive Fee Allocation*(1,245)1,245 — Balance at December 31, 2024*$30,801 $53,140 $83,941 

*Not covered by the auditor's report

The accompanying notes are an integral part of the consolidated financial statements.

97

DRI FR GLENDALE, LLC

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year Ended December 31, 2024*Year Ended December 31, 2023*Year Ended December 31, 2022(In thousands)CASH FLOWS FROM OPERATING ACTIVITIESNet Income $6,223 $46,664 $171,511 Adjustments to Reconcile Net Income to Net Cash Provided By (Used in) Operating Activities:Depreciation3,562 — — Other Amortization68 — — Gain on Sale of Real Estate(2,545)(40,616)(171,671)Amortization of Debt Issuance Costs202 — — Straight-line Rental Income(2,922)— — Non-Cash Interest Expense3,072 — — (Increase) Decrease in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net(403)34 1 Increase (Decrease)  in Accounts Payable, Accrued Expenses, Rents Received in Advance and Due to Related Party6,788 1,692 (25)Net Cash Provided By (Used in) Operating Activities14,045 7,774 (184)CASH FLOWS FROM INVESTING ACTIVITIESDevelopment Expenditures(48,559)(116,954)(15,251)Lease Costs(4,428)(1,781)— Earnest Money Deposit Received on Property Held for Sale— — 7,000 Net Proceeds from the Sale of Real Estate— 39,811 239,753 Net Cash (Used In) Provided by Investing Activities(52,987)(78,924)231,502 CASH FLOWS FROM FINANCING ACTIVITIESProceeds from Construction Loan27,249 82,751 9,037 Debt Issuance Costs(2)(3)(1,380)Contributions from Members11,