Company: FR
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0000921825-25-000074
Chunk: 42

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-07-17
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 FLOWS:Interest Expense Capitalized in Connection with Development Activity$5,885 $4,779 Cash Paid for Operating Lease Liabilities$1,570 $1,756 Supplemental Schedule of Non-Cash Operating Activities:Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets$114 $200 Supplemental Schedule of Non-Cash Investing and Financing Activities:General and Limited Partner Unit Distributions Payable$61,397 $50,658 Exchange of Limited Partner Units for General Partner Units:Limited Partner Units$(101)$(7)General Partner Units101 7 Total$— $— Assumption of Liabilities in Connection with the Acquisition of Real Estate$563 $131 Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate$53,686 $37,861 Improvements Funded by Tenant$1,041 $— Write-off of Fully Depreciated Assets$(27,261)$(18,511)

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

14

FIRST INDUSTRIAL REALTY TRUST, INC. AND FIRST INDUSTRIAL, L.P.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited; dollars in thousands, except per share and Unit data)

1. Organization

First Industrial Realty Trust, Inc. (the "Company") is a self-administered and fully integrated real estate company which owns, manages, acquires, sells, develops and redevelops industrial real estate. The Company is a Maryland corporation organized on August 10, 1993 and a real estate investment trust ("REIT") as defined in the Internal Revenue Code of 1986 (the "Code"). Unless stated otherwise or the context otherwise requires, the terms "we," "our" and "us" refer to the Company and its subsidiaries, including its operating partnership, First Industrial, L.P. (the "Operating Partnership"), and its consolidated subsidiaries.We began operations on July 1, 1994. The Company's operations are conducted primarily through the Operating Partnership, of which the Company is the sole general partner (the "General Partner"), with an approximate 97.0% ownership interest ("General Partner Units") at June 30, 2025. The Operating Partnership also conducts operations through several other limited partnerships (the "Other Real Estate Partnerships"), numerous limited liability companies ("LLCs") and certain taxable RE