Company: FR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000921825-25-000019
Chunk: 654

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 16
Chunk 654
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 — 56,525 Purchase Price of Land Parcels Acquired (B)25,924 80,554 105,486 Total Purchase Price (C)$70,689 $124,504 $299,137 (A) For the year ended December 31, 2022, includes $11,676, $1,577, $3,850 and ($4,950) allocated to building improvements/construction in progress, other assets, in-place leases and below market leases, respectively. (B) For the year ended December 31, 2023, includes $1,334 and $763 allocated to above market leases and in-place leases, respectively. (C) Purchase price excludes closing costs.The following table summarizes the fair value of amounts recognized for each major class of asset and liability for the industrial properties and land parcels acquired during the years ended December 31, 2024 and 2023:Year Ended December 31,20242023Land$42,399 $110,025 Building and Improvements/Construction in Progress24,635 10,659 Other Assets931 785 In-Place Leases3,209 3,091 Above Market Leases333 1,464 Below Market Leases(818)(1,520)Total Purchase Price$70,689 $124,504 SalesThe following table summarizes our property and land dispositions for the years ended December 31, 2024, 2023 and 2022:Year Ended December 31, 202420232022Number of Industrial Properties Sold 22 11 9 GLA (in millions) (A)1.2 1.0 2.2 Gross Proceeds from the Sale of Real Estate (A)$162,757 $125,293 $178,340 Gain on Sale of Real Estate (A) $111,970 $95,650 $128,268 (A)  Gross proceeds and gain on sale of real estate include the sale of two land parcels for the year ended December 31, 2023 and one land parcel for the year ended December 31, 2022.Real Estate Held for SaleAs of December 31, 2024, we had two industrial properties held for sale totaling approximately 0.1 million square feet of GLA.

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4. Indebtedness

The following table discloses certain information regarding our indebtedness: