FIRST INDUSTRIAL REALTY TRUST INC
For the period ended Mar 31, 2025. Filed Apr 17, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed Apr 17, 2025
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3. Investment in Real Estate
- Investment in Real Estate
Acquisitions
During the three months ended March 31, 2025, we acquiredtwo industrial properties totaling approximately 0.8 million square feet of GLA from the Joint Venture (see Note 5), as well asone 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 three months ended March 31, 2025:
| Land | $34,365 |
|---|---|
| Building and Improvements | 88,136 |
| In-Place Leases | 8,325 |
| Other Assets | 4,891 |
| Total Purchase Price | $135,717 |
Sales
During the three months ended March 31, 2025, we soldtwo industrial properties totaling approximately 0.1 million square feet of GLA. Gross proceeds from the sales were $11,860 and the gain on sale of real estate attributable to these sales was $6,844.
Real Estate Held for Sale
As of March 31, 2025, we hadone industrial property held for sale totaling approximately 0.02 million square feet of GLA.
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