FIRST INDUSTRIAL REALTY TRUST INC
For the period ended Sep 30, 2024. Filed Oct 18, 2024.
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Sep 30, 2024 · Filed Oct 18, 2024
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3. Investment in Real Estate
- Investment in Real Estate
Acquisitions
During the nine months ended September 30, 2024, we acquired five industrial properties totaling approximately 0.3 million square feet of GLA. We accounted for the properties as asset acquisitions and capitalized transaction costs to the basis of the acquired assets. The following table summarizes the allocation of the aggregate purchase price, excluding transaction costs, to each major asset class for the industrial properties acquired during the nine months ended September 30, 2024:
| Land | $16,475 |
|---|---|
| Building and Improvements | 24,635 |
| In-Place Leases | 3,209 |
| Above Market Leases | 333 |
| Below Market Leases | (818) |
| Other Assets | 931 |
| Total Purchase Price | $44,765 |
Sales
During the nine months ended September 30, 2024, we sold 17 industrial properties totaling approximately 1.0 million square feet of GLA. Gross proceeds from the sales were $138,257 and the gain on sale of real estate attributable to these sales was $93,801.
Real Estate Held for Sale
As of September 30, 2024, we hadthree industrial properties held for sale totaling approximately 0.2 million square feet of GLA.
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