First Industrial Realty Trust, Inc. (NYSE: FR) has successfully closed two significant refinancing deals, securing a total of $800 million in unsecured term loans. This financial maneuver, announced on January 22, 2026, positions the company to enhance its liquidity and support ongoing growth strategies in the logistics real estate sector.
The first loan, valued at $425 million, has an initial maturity date set for January 22, 2030, with a one-year extension option available at the company’s discretion, contingent on certain conditions. This term loan operates under an interest-only payment structure, applying an interest rate of SOFR plus 85 basis points, based on the company’s current credit ratings. Notably, the previous adjustment of 10 basis points to SOFR was eliminated in this refinancing.
In addition to the first loan, First Industrial Realty Trust also increased the size of its second term loan from $300 million to $375 million. This loan has an initial maturity date of January 22, 2029, and offers two one-year extension options, also subject to specific conditions. Similar to the first loan, it features an interest-only payment plan with an interest rate of SOFR plus 85 basis points, with the prior 10 basis points adjustment also removed.
Wells Fargo Securities, LLC and PNC Capital Markets LLC served as the Joint Lead Arrangers and Joint Book Runners for both loans. Additional support came from BofA Securities, Inc., U.S. Bank National Association, Regions Capital Markets, Fifth Third Bank, and Associated Bank as Joint Lead Arrangers. Wells Fargo Bank, National Association acted as the Administrative Agent, while PNC Bank, National Association, Bank of America, N.A., U.S. Bank National Association, and Regions Bank served as Co-Syndication Agents. American Savings Bank also participated in the term loan.
In conjunction with these refinancing efforts, the company amended its $200 million unsecured term loan, primarily to eliminate the 10 basis points SOFR adjustment from that agreement as well.
Scott Musil, Chief Financial Officer of First Industrial Realty Trust, expressed gratitude to the banking partners for their ongoing support. “We thank our banking partners for their commitments and support in refinancing these term loans, providing us capital to support our long-term growth,” Musil stated.
First Industrial Realty Trust, Inc. is a prominent owner, operator, developer, and acquirer of logistics properties in the United States. The company boasts a fully integrated operating and investment platform that delivers high-quality facilities and exceptional customer service to multinational corporations and regional firms vital for their supply chains. As of September 30, 2025, First Industrial Realty Trust owned and had under development approximately 70.4 million square feet of industrial space concentrated in 15 target metropolitan statistical areas (MSAs).
This refinancing initiative underscores First Industrial Realty Trust’s commitment to maintaining a robust capital structure while continuing to expand its footprint in the logistics real estate market. For additional details, interested parties can visit the company’s official website at www.firstindustrial.com.
