FIRST INDUSTRIAL REALTY TRUST INC
For the period ended Jun 30, 2024. Filed Jul 18, 2024.
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Jun 30, 2024 · Filed Jul 18, 2024
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3. Investment in Real Estate
- Investment in Real Estate
Acquisitions
During the six months ended June 30, 2024, we acquiredone industrial property comprised of approximately 0.05 million square feet of GLA. We accounted for the property as an asset acquisition and capitalized transaction costs to the basis of the acquired asset. The following table summarizes the allocation of the purchase price, excluding transaction costs, to each major asset class for the industrial property acquired during the six months ended June 30, 2024:
| Land | $12,069 |
|---|---|
| Building and Improvements | 1,809 |
| In-Place Leases | 1,283 |
| Above Market Leases | 218 |
| Other Assets | 371 |
| Total Purchase Price | $15,750 |
Sales
During the six months ended June 30, 2024, we sold 10 industrial properties comprised of approximately 0.5 million square feet of GLA. Gross proceeds from the sales were $56,507 and the gain on sale of real estate attributable to these sales was $36,987.
Real Estate Held for Sale
As of June 30, 2024, we had a portfolio ofseven industrial properties comprised of approximately 0.4 million square feet of GLA held for sale. The Liabilities Held for Sale line item included on the Consolidated Balance Sheets is comprised of Operating Lease Liabilities and Rents Received in Advance and Security Deposits.
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