First Industrial Realty Trust to Participate in Two September Investor Conferences; Provides Update on Rent Collections

Rhea-AI Summary

On September 1, 2020, First Industrial Realty Trust (NYSE: FR) announced participation in two virtual investor conferences: the BMO 2020 Real Assets Conference and the BofA Securities 2020 Global Real Estate Conference. Presentation materials will be available on the company's website starting September 2. The firm reported strong cash rent collections, achieving 99% for April, May, and August, and 98% for June and July. As of June 30, 2020, First Industrial manages approximately 64 million square feet of industrial space across the U.S.

CHICAGO, Sept. 1, 2020 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of industrial real estate, announced that it will participate in two virtual investor conferences in September: the BMO 2020 Real Assets Conference and the BofA Securities 2020 Global Real Estate Conference.

First Industrial's presentation materials for the conferences will be available under the "Investors" tab on Wednesday, September 2, 2020. 

The Company also provided an update on its cash rent collections for second quarter and third quarter to-date monthly rental billings as of August 31^st. By month, First Industrial has collected 99% for April, 99% for May, 98% for June, and 98% for July. The Company also has collected 99% of August monthly rental billings, assuming collections from government tenants.

About First Industrial Realty Trust, Inc.
First Industrial Realty Trust, Inc. (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types. In total, we own and have under development approximately 64.0 million square feet of industrial space as of June 30, 2020. For more information, please visit us at www.firstindustrial.com.

Forward-Looking Information
This press release contains 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. Forward-looking statements are based on certain assumptions and describe our future plans, strategies and expectations, and are generally identifiable by use of the words "believe," "expect," "plan," "intend," "anticipate," "estimate," "project," "seek," "target," "potential," "focus," "may," "will," "should" or similar words. Although we believe the expectations reflected in forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. 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) 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; the uncertainty and economic impact of pandemics, epidemics or other public health emergencies or fear of such events, such as the recent outbreak of coronavirus disease 2019 (COVID-19); 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) and changes in interest rates; the availability and attractiveness of terms of additional debt repurchases; our ability to retain our credit agency ratings; our ability to comply with applicable financial covenants; our competitive environment; changes in supply, demand and valuation of industrial properties and land in our current and potential market areas; our ability to identify, acquire, develop and/or manage properties on favorable terms; our ability to dispose of properties on favorable terms; our ability to manage the integration of properties we acquire; potential liability relating to environmental matters; defaults on or non-renewal of leases by our tenants; decreased rental rates or increased vacancy rates; higher-than-expected real estate construction costs and delays in development or lease-up schedules; potential natural disasters and other potentially catastrophic events such as acts of war and/or terrorism; litigation, including costs associated with prosecuting or defending claims and any adverse outcomes; risks associated with our investments in joint ventures, including our lack of sole decision-making authority; and other risks and uncertainties described under the heading "Risk Factors" and elsewhere in our annual report on Form 10-K for the year ended December 31, 2019, as well as those risks and uncertainties discussed from time to time in our other Exchange Act reports and in our other public filings with the SEC. 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 us and the statements contained herein, reference should be made to our filings with the SEC.

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SOURCE First Industrial Realty Trust, Inc.

FAQ

What investor conferences is First Industrial Realty Trust participating in September 2020?

First Industrial Realty Trust will participate in the BMO 2020 Real Assets Conference and the BofA Securities 2020 Global Real Estate Conference in September 2020.

When will presentation materials be available for First Industrial Realty Trust's conferences?

The presentation materials for First Industrial Realty Trust's conferences will be available on their website starting September 2, 2020.

What is the current status of rent collections for First Industrial Realty Trust?

As of August 31, 2020, First Industrial Realty Trust reported cash rent collections of 99% for April, May, and August, and 98% for June and July.

How much industrial space does First Industrial Realty Trust own?

As of June 30, 2020, First Industrial Realty Trust owns and has under development approximately 64 million square feet of industrial space.

What is the stock symbol for First Industrial Realty Trust?

The stock symbol for First Industrial Realty Trust is FR.