Company: FR
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0000921825-25-000074
Chunk: 76

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-07-17
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 provides a summary of our leases that commenced during the three and six months ended June 30, 2025, which included rent concessions during the lease term.  

Three Months EndedNumber ofLeasesWith Rent ConcessionsSquare Feet(in 000's)Rent Concessions ($)New Leases15 372 $692 Renewal Leases1 12 74 Development / Acquisition Leases1 58 368 Total17 442 $1,134 Six Months EndedNew Leases25 714 $1,401 Renewal Leases3 262 1,947 Development / Acquisition Leases2 157 787 Total30 1,133 $4,135 

38

Liquidity and Capital Resources

At June 30, 2025, we had approximately $34.9 million in cash and cash equivalents, excluding our Joint Venture partner's share of cash that is consolidated in our financial statements. We also had $823.8 million available for additional borrowings under our Unsecured Credit Facility as of June 30, 2025. 

We have considered our short-term liquidity needs through June 30, 2026, and assessed the adequacy of our estimated cash flows from operations and other available sources of liquidity to meet those needs. As of June 30, 2025, we have a $300.0 million unsecured term loan maturing on August 12, 2025. We have delivered notice to the lenders to exercise the first of our two available one-year extension options, which, upon satisfaction of certain customary conditions, will extend the loan's maturity to August 2026. Beyond this maturity, we believe that our principal short-term liquidity needs include funding normal recurring expenses, property acquisitions, developments, expansions, renovations and other nonrecurring capital improvements, debt service requirements, the minimum distributions required to maintain the Company's REIT status under the Code and distributions approved by the Company's Board of Directors. We anticipate meeting these liquidity needs primarily through cash flows provided by operating activities and proceeds from select asset dispositions. These needs may also be met by the issuance of other debt or equity securities or borrowings under our Unsecured Credit Facility, subject to market conditions. 

We expect to meet long-term (after June 30, 2026) liquidity requirements such as property acquisitions, developments, scheduled debt maturities, major renovations, expansions and other nonrecurring capital improvements through the disposition