Company: FR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000921825-25-000019
Chunk: 680

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 16
Chunk 680
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 are an integral part of the consolidated financial statements.

96

DRI FR GLENDALE, LLC

CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS' CAPITAL

FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022

Diamond Camelback, LLCFR Merit Glendale, LLCTotal(In thousands)Balance at December 31, 2021$37,558 $36,085 $73,643 Cash Contributions5,033 4,835 9,868 Cash Distributions(92,360)(147,390)(239,750)Net Income87,471 84,040 171,511 Incentive Fee Allocation(31,308)31,308 — Balance at December 31, 2022$6,394 $8,878 $15,272 Cash Contributions*12,853 12,350 25,203 Cash Distributions*(7,703)(7,400)(15,103)Net Income*23,799 22,865 46,664 Incentive Fee Allocation*(9,369)9,369 — Balance at December 31, 2023*$25,974 $46,062 $72,036 Cash Contributions*5,963 5,729 11,692 Cash Distributions*(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