FIRST INDUSTRIAL LP
For the period ended Jun 30, 2025. Filed Jul 17, 2025.
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Jun 30, 2025 · Filed Jul 17, 2025
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3. Investment in Real Estate
- Investment in Real Estate
Acquisitions
During the six months ended June 30, 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 six months ended June 30, 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 six months ended June 30, 2025, we sold three industrial properties totaling approximately 0.1 million square feet of GLA. Gross proceeds from the sales were $13,710 and the gain on sale of real estate attributable to these sales was $7,965.
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