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Press Release
First Industrial Realty Trust Closes Three Secured Financings Totaling $154 Million
Proceeds to Be Used Principally to Reduce Debt, Including Retirement of
"We are pleased to complete these secured financing transactions, backed
by properties in our large, diversified industrial portfolio," said
The largest financing was a
In addition, the Company secured a
Mr. Duncan added, "Upon the retirement of our
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, and Section 21E of the
Securities Exchange Act of 1934. We intend such forward-looking statements to
be covered by the safe harbor provisions for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995, and are
including this statement for purposes of complying with those safe harbor
provisions. Forward-looking statements, which are based on certain assumptions
and describe future plans, strategies and expectations of the Company, are
generally identifiable by use of the words "believe," "expect," "intend,"
"anticipate," "estimate," "project" or similar expressions. Our ability to
predict results or the actual effect of future plans or strategies is
inherently uncertain. Factors which could have a materially adverse affect on
our operations and future prospects include, but are not limited to, changes
in: national, international (including trade volume growth), regional and
local economic conditions generally and real estate markets specifically,
legislation/regulation (including changes to laws governing the taxation of
real estate investment trusts), our ability to qualify and maintain our status
as a real estate investment trust, availability and attractiveness of
financing (including both public and private capital) to us and to our
potential counterparties, interest rate levels, our ability to maintain our
current credit agency ratings, competition, supply and demand for industrial
properties (including land, the supply and demand for which is inherently more
volatile than other types of industrial property) in the Company's current and
proposed market areas, difficulties in consummating acquisitions and
dispositions, risks related to our investments in properties through joint
ventures, potential environmental liabilities, slippage in development or
lease-up schedules, tenant credit risks, higher-than-expected costs, changes
in general accounting principles, policies and guidelines applicable to real
estate investment trusts, risks related to doing business internationally
(including foreign currency exchange risks and risks related to integrating
international properties and operations) and those additional factors
described under the heading "Risk Factors" and elsewhere in the Company's
annual report on Form 10-K for the year ended
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