Company: FR
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118941
Chunk: 18

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-13
Form: 424B5
Chunk 18
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 threatened litigation, which may divert our management’s time and attention, require us to pay 
 damages and expenses or restrict the operation of our business;                                              |

| • |     | general market and economic conditions; and |

| • |     | our financial condition, results of operations and prospects. |

Many of the factors listed above are beyond our control. These factors may cause the market price of the notes to decline, regardless of our financial condition, results of operations, business or prospects. It is impossible to provide any assurance that the market price of the notes will not fall in the future, and it may be difficult for investors to resell the notes at prices they find attractive or at all. Holders of the notes will not be entitled to require us to redeem or repurchase the notes upon the occurrence of change of control or highly levered transactions or other designated events. As of March 31, 2025, we had $454.0 million of indebtedness outstanding under the Operating Partnership’s unsecured revolving credit facility, and we had $395.5 million of borrowing capacity available (subject to customary conditions) under the unsecured revolving credit facility. As of March 31, 2025, we had $925.0 million of outstanding indebtedness under the Operating Partnership’s unsecured term loan facilities, which were fully drawn, and $998.6 million aggregate principal amount of existing senior unsecured notes S-14

outstanding. The instruments and agreements governing some of our outstanding indebtedness (including borrowings under the Operating Partnership’s unsecured credit facilities) contain
provisions that require us to repay that indebtedness under specified circumstances or upon the occurrence of specified events (including upon the acquisition by any person or group of more than a specified percentage of the aggregate voting power
of all of the Company’s issued and outstanding voting stock, upon certain changes in the composition of a majority of the members of the Company’s board of directors, if the Company ceases to be the sole general partner of the Operating
Partnership or the Company ceases to own, directly or indirectly, at least 50% of the voting equity interests in the Operating Partnership) and our future debt agreements and debt securities may contain similar provisions or may require that we
repay or repurchase or offer to repurchase for cash the applicable indebtedness under specified circumstances or upon the occurrence of specified changes of control of the Company or the Operating Partnership or other events. The notes offered
hereby do not have any similar rights to require us to