Company: FR
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118941
Chunk: 50

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-13
Form: 424B5
Chunk 50
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 estate assets or other real estate-related assets (including equity interests) of a Subsidiary of the Operating Partnership (or entity in which the Operating Partnership is the general partner or managing member), in each case that is the borrower in such financing, but is non-recourseto the Operating Partnership or any of the Operating Partnership’s other Subsidiaries, except for customary completion or budget guarantees or indemnities (including by means of separate indemnification agreements or carve-outguarantees) as are consistent with customary industry practice (such as environmental indemnities and recourse triggers based on violation of transfer restrictions and other customary exceptions to nonrecourse liability). “Significant Subsidiary” of any specified person means any Subsidiary in which such person has invested at least $50,000,000 in capital. “Subsidiary” means, with respect to the Operating Partnership or the Company, any person (as defined in the indenture but excluding an individual), a majority of the outstanding voting stock, partnership interests, membership interests or other equity interest, as the case may be, of which is owned or controlled, directly or indirectly, by the Operating Partnership or the Company, as the case may be, or by one or more other Subsidiaries of the Operating Partnership or the Company, as the case may be. For the purposes of this definition, “voting stock” means stock having voting power for the election of directors, trustees or managers, as the case may be, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. “Total Assets” means the sum of, without duplication:

| • |     | Undepreciated Real Estate Assets; and |

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| • |     | all other assets (excluding accounts receivable and non-real estate 
 intangibles) of the Operating Partnership and its Subsidiaries,     |

all determined on a consolidated basis in accordance with United States generally accepted accounting principles. “Total Unencumbered Assets” means the sum of, without duplication:

| • |     | those Undepreciated Real Estate Assets which are not subject to a Lien securing Debt; and |

| • |     | all other assets (excluding accounts receivable and non-real estate          
 intangibles) of us and our Subsidiaries not subject to a Lien securing Debt, |

all determined on a consolidated basis in accordance with United States generally accepted accounting principles; provided, however