Company: FR
Filing Date: 2025-10-17
Form Type: 10-Q
Source: 0000921825-25-000107
Chunk: 101

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-10-17
Form: 10-Q
Item: Part I, Item 8
Chunk 101
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 statement. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026. We are currently evaluating ASU 2024-03 to determine its impact on our financial statement disclosures.

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3. Investment in Real Estate

AcquisitionsDuring the nine months ended September 30, 2025, we acquired two industrial properties totaling approximately 0.8 million square feet of GLA from the Joint Venture (see Note 5), as well as two land parcels from a third-party seller. We accounted for the properties and land parcels as asset acquisitions, with related transaction costs capitalized to the respective asset bases. The following table summarizes the allocation of the aggregate purchase price, excluding transaction costs, to the major asset classes for the industrial properties and land parcels acquired during the nine months ended September 30, 2025:Land$43,981 Building and Improvements88,252 In-Place Leases9,218 Other Assets4,891 Total Purchase Price $146,342 Sales

During the nine months ended September 30, 2025, we sold four industrial properties totaling approximately 0.2 million square feet of GLA and one land parcel. Gross proceeds from the sales were $26,860 and the gain on sale of real estate attributable to these sales was $17,503. 

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4. Indebtedness

The following table discloses certain information regarding our indebtedness:  Outstanding Balance atInterestRate atSeptember 30, 2025EffectiveInterestRate atIssuanceMaturityDate September 30, 2025December 31, 2024Mortgage Loan Payable$9,383 $9,643 4.17%4.17%8/1/2028Senior Unsecured Notes, Gross2027 Notes6,070 6,070 7.15%7.11%5/15/20272028 Notes31,901 31,901 7.60%8.13%7/15/20282031 Notes450,000 — 5.25%5.41%1/15/20312032 Notes10,600 10,600 7.75%7.87%4/15/20322027 Private Placement Notes125,000 125,000 4.30%4.30%4/20/20272028 Private Placement Notes150,000 150,000 3