2014

First Industrial Realty Trust, Inc. Announces Pricing of Common Stock Offering

CHICAGO, March 5, 2013 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR) ("First Industrial" or the "Company") today announced the pricing of its underwritten public offering of 8,400,000 shares of its common stock. 

(Logo: http://photos.prnewswire.com/prnh/20040106/FRLOGO)

First Industrial will receive approximately $134 million of gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses.  The Company intends to use the proceeds for general corporate purposes, which may include repayments or repurchases of debt, preferred stock redemptions, and acquisition and/or development of properties.  Completion of the offering is subject to customary closing conditions.

BofA Merrill Lynch and UBS Investment Bank are acting as the book-running managers for the common stock offering and propose to offer the shares at prevailing market prices or otherwise from time to time through the NYSE, the over-the-counter market, negotiated transactions or otherwise.  

The shares of common stock are being offered under the Company's shelf registration statement, including a prospectus filed by First Industrial with the Securities and Exchange Commission on March 1, 2012.  The offering will be made only by means of a prospectus supplement and accompanying base prospectus.  Copies of the prospectus supplement, when available, and the accompanying prospectus relating to these securities may be obtained without charge from BofA Merrill Lynch, 222 Broadway, New York, NY 10038 Attn: Prospectus Department, or by email at dg.prospectus_requests@baml.com, or from UBS Securities LLC, by mail at Attention: Prospectus Department, 299 Park Avenue, New York, New York 10171, or by telephone at 1-888-827-7275.  A copy of the prospectus supplement and accompanying base prospectus may also be obtained without charge by visiting the SEC website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About First Industrial Realty Trust, Inc.

First Industrial Realty Trust, Inc. (NYSE: FR) is a leading owner and operator of industrial real estate and provider of supply chain solutions to multinational corporations and regional customers.  Across major markets in North America, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.  We have a track record of industry leading customer service, and in total, we own, manage and have under development approximately 67.5 million square feet of industrial space as of December 31, 2012.  For more information, please visit us at www.firstindustrial.com. We post or otherwise make available on this website from time to time information that may be of interest to investors.

Forward-Looking Information

This press release may contain 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 for 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," "seek," "target," "potential," "focus," "may," "should" 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 effect on our operations and future prospects include, but are not limited to: changes in national, international, regional and local economic conditions generally and real estate markets specifically; changes in legislation/regulation (including changes to laws governing the taxation of real estate investment trusts) and actions of regulatory authorities (including the Internal Revenue Service); our ability to qualify and maintain our status as a real estate investment trust; the availability and attractiveness of financing (including both public and private capital) to us and to our potential counterparties; the availability and attractiveness of terms of additional debt repurchases; interest rates; our credit agency ratings; our ability to comply with applicable financial covenants; competition; changes in 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; environmental liabilities; slippages in development or lease-up schedules; tenant creditworthiness; higher-than-expected costs; changes in asset valuations and related impairment charges; changes in general accounting principles, policies and guidelines applicable to real estate investment trusts; international business risks; 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 December 31, 2012 and in the Company's subsequent '34 Act reports. We caution you not to place undue reliance on forward-looking statements, which reflect our outlook only and speak only as of the date of this press release or the dates indicated in the statements. We assume no obligation to update or supplement forward-looking statements. For further information on these and other factors that could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission.

SOURCE First Industrial Realty Trust, Inc.



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