First Industrial Realty Trust Inc. has refinanced its $425 million unsecured term loan, extending the initial maturity date to January 22, 2030, with a one-year extension option at the company's discretion, subject to certain conditions. The new agreement provides for interest-only payments at a rate of SOFR plus 85 basis points, based on the company’s current credit ratings, and eliminates the previous 10 basis point SOFR adjustment. In addition, the company amended its $200 million unsecured term loan to remove the same 10 basis point SOFR adjustment. These financings provide First Industrial Realty Trust with capital to support its long-term growth.

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