Company: FR
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0000921825-25-000074
Chunk: 83

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-07-17
Form: 10-Q
Item: Part I, Item 1
Chunk 83
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084 6.4%$249,120 $232,081 7.3%Same Store Adjustments:Straight-line Rent(2,039)(3,910)(4,533)(7,803)Above / Below Market Rent Amortization(545)(924)(1,087)(1,659)Lease Termination Fees(85)(103)(109)(172)Same Store Net Operating Income$121,947 $112,147 8.7%$243,391 $222,447 9.4%

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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 six months ended June 30, 2025 and 2024.

Three Months Ended June 30,Six Months Ended June 30, 2025202420252024 (In thousands)(In thousands)Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities$55,185 $51,318 $103,288 $119,770 Interest Expense21,722 21,126 41,191 42,023 Depreciation and Other Amortization of Real Estate47,048 42,863 90,631 84,495 Depreciation and Other Amortization of Real Estate in the Joint Venture519 585 1,575 585 Income Tax Provision - Allocable to FFO150 471 314 722 Net Income Attributable to the Noncontrolling Interests1,694 1,558 6,475 3,604 Equity in FFO from Joint Venture Attributable to the Noncontrolling Interest(22)(195)(169)(347)Amortization of Debt Issuance Costs1,328 912 2,291 1,824 Depreciation of Corporate FF&E159 185 330 372 Gain on Sale of Real Estate(1,121)(6,135)(7,965)(36,987)Gain on Sale of Real Estate from Joint Venture(275)(122)(3,580)(254)Income Tax (Benefit) Provision - Excluded from FFO(71)(45)5,665 883 General and Administrative8,434 9,621 24,331 21,402 Equity in FFO from Joint Venture, Net of Noncontrolling Interest