Company: FR
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0000921825-25-000074
Chunk: 102

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-07-17
Form: 10-Q
Item: Part I, Item 8
Chunk 102
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 statement. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026. We are currently evaluating ASU 2024-03 to determine its impact on our financial statement disclosures.

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3. Investment in Real Estate

AcquisitionsDuring the six months ended June 30, 2025, we acquired two industrial properties totaling approximately 0.8 million square feet of GLA from the Joint Venture (see Note 5), as well as one land parcel from a third-party seller. We accounted for the properties and land parcel as asset acquisitions, with related transaction costs capitalized to the respective asset bases. The following table summarizes the allocation of the aggregate purchase price, excluding transaction costs, to the major asset classes for the industrial properties and land parcel acquired during the six months ended June 30, 2025:Land$34,365 Building and Improvements88,136 In-Place Leases8,325 Other Assets4,891 Total Purchase Price $135,717 Sales

During the six months ended June 30, 2025, we sold three industrial properties totaling approximately 0.1 million square feet of GLA. Gross proceeds from the sales were $13,710 and the gain on sale of real estate attributable to these sales was $7,965. 

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4. Indebtedness

The following table discloses certain information regarding our indebtedness:  Outstanding Balance atInterestRate atJune 30, 2025EffectiveInterestRate atIssuanceMaturityDate June 30, 2025December 31, 2024Mortgage Loan Payable$9,471 $9,643 4.17%4.17%8/1/2028Senior Unsecured Notes, Gross2027 Notes6,070 6,070 7.15%7.11%5/15/20272028 Notes31,901 31,901 7.60%8.13%7/15/20282031 Notes450,000 — 5.25%5.41%1/15/20312032 Notes10,600 10,600 7.75%7.87%4/15/20322027 Private Placement Notes125,000 125,000 4.30%4.30%4/20/20272028 Private Placement Notes150,000 150,000 3.86%3