First Industrial Realty Trust logo. (PRNewsFoto/First Industrial Realty Trust)
First Industrial Realty Trust, Inc. (NYSE: FR) has successfully refinanced two significant unsecured term loans, totaling approximately $800 million. This strategic move, announced on January 22, 2026, is designed to provide enhanced financial flexibility and support the company’s long-term growth initiatives.
The first loan entails a refinancing of an existing $425 million unsecured term loan with a maturity date set for January 22, 2030. This loan includes a one-year extension option available at the company’s discretion, contingent upon certain conditions. The interest rate for this loan is pegged at the Secured Overnight Financing Rate (SOFR) plus 85 basis points, a decrease from the previous adjustment of 10 basis points.
Wells Fargo Securities, LLC and PNC Capital Markets LLC acted as the Joint Lead Arrangers and Joint Book Runners for this transaction. Additional support came from BofA Securities, Inc., Regions Capital Markets, and several other financial institutions, with Wells Fargo Bank serving as the Administrative Agent.
In a parallel effort, First Industrial also refinanced a $300 million term loan, increasing its size to $375 million. This loan has an initial maturity date of January 22, 2029, with two additional one-year extension options available at the company’s discretion. Similar to the first loan, it offers interest-only payments at a rate of SOFR plus 85 basis points. U.S. Bank National Association, BofA Securities, and PNC Capital Markets were among the Joint Lead Arrangers for this refinancing as well.
The firm has amended its $200 million unsecured term loan, which also includes the removal of the previous 10 basis points SOFR adjustment. This comprehensive refinancing strategy is anticipated to enhance First Industrial’s capital structure and operational capabilities.
Scott Musil, Chief Financial Officer of First Industrial Realty Trust, expressed gratitude for the support from banking partners. “We thank our banking partners for their commitments and support in refinancing these term loans, providing us capital to support our long-term growth,” he stated.
First Industrial Realty Trust, Inc. is a prominent player in the logistics real estate sector in the United States. The company owns and operates approximately 70.4 million square feet of industrial space across 15 target metropolitan statistical areas (MSAs) as of September 30, 2025. Their integrated approach to operating and investing delivers high-quality facilities and exceptional customer service to multinational corporations and regional firms crucial to supply chains.
As First Industrial Realty Trust moves forward, its refinancing actions are expected to bolster its financial standing and support ongoing development efforts in a competitive market. The firm remains committed to adapting to changing economic conditions and optimizing its portfolio for sustained growth.
For further details on First Industrial Realty Trust, visit their official website at [www.firstindustrial.com](http://www.firstindustrial.com).
