Company: FR
Filing Date: 2025-10-17
Form Type: 10-Q
Source: 0000921825-25-000107
Chunk: 22

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-10-17
Form: 10-Q
Item: Part I, Item 2
Chunk 22
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 NOI for the three and nine months ended September 30, 2025 and 2024.

Three Months Ended September 30,Nine Months Ended September 30, 20252024% Change20252024% Change (In thousands)(In thousands)Same Store Revenues$165,101 $157,055 $492,315 $465,101 Same Store Property Expenses(39,658)(37,749)(118,022)(113,953)Same Store Net Operating Income Before Same Store Adjustments$125,443 $119,306 5.1%$374,293 $351,148 6.6%Same Store Adjustments:Straight-line Rent(2,117)1,525 (6,666)(6,297)Above / Below Market Rent Amortization(518)(693)(1,605)(2,352)Lease Termination Fees(45)— (154)(172)Same Store Net Operating Income$122,763 $120,138 2.2%$365,868 $342,327 6.9%

45

The following table shows a reconciliation of net income available to common stockholders and participating securities to cash basis SS NOI without lease termination fees for the three and nine months ended September 30, 2025 and 2024.

Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024 (In thousands)(In thousands)Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities$65,306 $99,363 $168,594 $219,133 Interest Expense21,731 20,836 62,922 62,859 Depreciation and Other Amortization of Real Estate45,601 43,332 136,232 127,827 Depreciation and Other Amortization of Real Estate in the Joint Venture607 1,123 2,182 1,708 Income Tax Provision - Allocable to FFO449 352 763 1,074 Net Income Attributable to the Noncontrolling Interests2,058 2,810 8,533 6,414 Equity in FFO from Joint Venture Attributable to the Noncontrolling Interest(100)(196)(269)(543)Amortization of Debt Issuance Costs1,