Company: FR
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118941
Chunk: 0

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-13
Form: 424B5
Chunk 0
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Filed Pursuant to Rule 424(b)(5)
Registration No. 333-287056 Prospectus Supplement (To Prospectus dated May 7, 2025) First Industrial, L.P. $450,000,000 5.250% Senior Notes due 2031 guaranteed by First Industrial Realty Trust, Inc. First Industrial, L.P., which we refer to as the Operating Partnership, is offering $450,000,000 aggregate principal amount of its 5.250% Senior Notes due 2031, or the notes. Interest on the notes will be paid semi-annually in arrears on January 15 and July 15 of each year, beginning on January 15, 2026. The notes will mature on January 15, 2031 . The Operating Partnership may redeem the notes at its option and sole discretion, at any time in whole or from time to time in part, for cash at the applicable redemption price described in this prospectus supplement in the section entitled “Description of Notes—The Operating Partnership’s redemption rights.” The notes will be our direct, senior unsecured and unsubordinated obligations and will rank equally in right of payment with all of our other senior unsecured and unsubordinated indebtedness from time to time outstanding. The notes will be effectively subordinated in right of payment to our existing and future secured indebtedness (as to which the repayment obligation may be limited to the value of the collateral securing such indebtedness). In addition, the notes will be effectively subordinated in right of payment to all existing and future liabilities and other indebtedness, whether secured or unsecured, of the Operating Partnership’s subsidiaries. The notes will be fully and unconditionally guaranteed by First Industrial Realty Trust, Inc., the sole general partner of the Operating Partnership. First Industrial Realty Trust, Inc. does not have any material assets other than its investment in the Operating Partnership. The notes are a new issue of securities with no established trading market. We do not intend to apply for listing of the notes on any securities exchange or for quotation of the notes on any automated dealer quotation system. Investing in the notes involves risks. See “ Risk Factors” beginning on page S-9of this prospectus supplement and the risks set forth under the caption “Item 1A. Risk Factors” included in our most recent Annual Report on Form 10-Kfiled with the Securities and Exchange Commission, which is incorporated by reference herein, for certain risks relevant to an investment in the notes.

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