Company: FR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000921825-25-000019
Chunk: 329

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 11
Chunk 329
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 normal course of business, the Joint Venture is involved in legal actions arising from the ownership of its properties. In management’s opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a materially adverse effect on the financial position, operations or liquidity of the Joint Venture.

In connection with the Joint Venture’s sale of 358 developable acres to a third party on June 30, 2022 (See Note 3) and the Joint Venture’s sale of 31 acres to a third party on March 30, 2023 (see Note 3), the Joint Venture is required to complete infrastructure work for both purchasers. As of December 31, 2024, the estimated cost of the infrastructure work was $22,041 of which $7,842 remains to be incurred.

9. Subsequent Events

Subsequent events have been evaluated and disclosed herein relating to events that have occurred from January 1, 2025 through the issuance date of this report, February 13, 2025.

From January 1, 2025 to February 13, 2025, the Joint Venture borrowed $4,754 under the construction loan agreement.

From January 1, 2025 to February 13, 2025, Diamond and FR Merit contributed $84 and $81, respectively, to the Joint Venture.

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FIRST INDUSTRIAL REALTY TRUST, INC. AND FIRST INDUSTRIAL, L.P.SCHEDULE III: REAL ESTATE AND ACCUMULATED DEPRECIATIONAs of December 31, 2024    Initial CostCostsCapitalizedSubsequent toAcquisition orCompletionand ValuationProvisionGross Amount CarriedAt Close of Period 12/31/24YearAcquired/ConstructedBuilding Address Location(City/State)(a)EncumbrancesLandBuildings andImprovementsLandBuildings andImprovementsTotal(b)AccumulatedDepreciation12/31/2024Properties  (In thousands) Atlanta1650 Highway 155McDonough, GA$— $779 $4,544 $(886)$345 $4,092 $4,437 $3,084 19944051 Southmeadow ParkwayAtlanta, GA— 726 4,130 1,634 726 5,764 6,490 4,021 19944071 Southmeadow ParkwayAtlanta, GA—