FIRST INDUSTRIAL LP

3. Investment in Real Estate

Acquisitions

During the nine months ended September 30, 2026, we acquiredtwo industrial properties totaling approximately 0.9 million square feet of GLA as well astwo land parcels. We accounted for the properties and land parcels 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, for these assets as a group, to the following major asset classes:

Gain on Sales-Type Lease and Sales

During the nine months ended September 30, 2026, we completed the sale offour industrial properties and a land site. Thefour industrial properties totaled approximately 0.3 million square feet of GLA. The land site sale resulted from the tenant's exercise of its purchase option during the first quarter of 2026, with the sale closing during the second quarter of 2026. Upon exercise of the option, we reassessed the lease classification and concluded, based on various qualitative factors, that it was reasonably certain the tenant would complete the purchase. Accordingly, the lease was reclassified from an operating lease to a sales-type lease, resulting in the derecognition of the carrying value of the property and the recognition of the related gain on sale of real estate. For the nine months ended September 30, 2026, aggregate gross proceeds from the sales of these industrial properties and the land site were $160,546, and the related aggregate gain on sale of real estate was $125,623.