Industrial REITs Standardize Key Property Metrics
First Industrial Realty Trust (NYSE: FR) has announced a significant initiative with other major industrial REITs to standardize non-GAAP property metrics calculations across the sector. The coalition, including EastGroup Properties, Prologis, and STAG Industrial, has updated their methodology for key metrics such as property stabilization, occupancy, rent change, and customer retention.
The initiative builds upon their 2018 harmonization efforts and maintains that annual same-store portfolio calculations will only include properties stabilized in both current and prior periods. The standardization will be implemented in First Industrial's 2025 guidance and is not expected to materially impact non-GAAP metrics for periods before 2025.
First Industrial currently owns and has under development approximately 69.5 million square feet of industrial space across 15 target MSAs, focusing on supply-constrained, coastally oriented markets as of December 31, 2024.
First Industrial Realty Trust (NYSE: FR) ha annunciato un'iniziativa significativa insieme ad altri importanti REIT industriali per standardizzare i calcoli delle metriche immobiliari non-GAAP nel settore. La coalizione, che include EastGroup Properties, Prologis e STAG Industrial, ha aggiornato la propria metodologia per metriche chiave come la stabilizzazione degli immobili, l'occupazione, la variazione degli affitti e la retention dei clienti.
L'iniziativa si basa sugli sforzi di armonizzazione del 2018 e stabilisce che i calcoli annuali del portafoglio a parità di negozi includeranno solo gli immobili stabilizzati sia nei periodi attuali che in quelli precedenti. La standardizzazione sarà implementata nella guida per il 2025 di First Industrial e non si prevede che influisca in modo significativo sulle metriche non-GAAP per i periodi precedenti al 2025.
First Industrial attualmente possiede e ha in fase di sviluppo circa 69,5 milioni di piedi quadrati di spazio industriale in 15 mercati MSAs target, concentrandosi su mercati orientati verso la costa e con vincoli di offerta al 31 dicembre 2024.
First Industrial Realty Trust (NYSE: FR) ha anunciado una iniciativa significativa junto a otros importantes REIT industriales para estandarizar los cálculos de métricas de propiedades no-GAAP en el sector. La coalición, que incluye a EastGroup Properties, Prologis y STAG Industrial, ha actualizado su metodología para métricas clave como la estabilización de propiedades, la ocupación, el cambio de renta y la retención de clientes.
La iniciativa se basa en los esfuerzos de armonización de 2018 y establece que los cálculos anuales del portafolio de tiendas comparables incluirán solo propiedades estabilizadas tanto en los períodos actuales como en los anteriores. La estandarización se implementará en la guía de 2025 de First Industrial y no se espera que impacte materialmente las métricas no-GAAP para períodos anteriores a 2025.
First Industrial actualmente posee y tiene en desarrollo aproximadamente 69,5 millones de pies cuadrados de espacio industrial en 15 mercados MSAs objetivo, enfocándose en mercados orientados a la costa y con restricciones de oferta al 31 de diciembre de 2024.
퍼스트 인더스트리얼 리얼티 트러스트 (NYSE: FR)는 다른 주요 산업 REIT와 함께 부문 전반의 비-GAAP 부동산 메트릭 계산을 표준화하기 위한 중요한 이니셔티브를 발표했습니다. 이 연합에는 이스트그룹 프로퍼티스, 프로로지스, STAG 인더스트리얼이 포함되며, 부동산 안정화, 점유율, 임대료 변화 및 고객 유지와 같은 주요 메트릭에 대한 방법론을 업데이트했습니다.
이 이니셔티브는 2018년의 조화 노력을 기반으로 하며, 연간 동일 매장 포트폴리오 계산에는 현재 및 이전 기간 모두에서 안정화된 부동산만 포함된다고 명시하고 있습니다. 표준화는 퍼스트 인더스트리얼의 2025년 가이드라인에 적용될 예정이며, 2025년 이전 기간의 비-GAAP 메트릭에 중대한 영향을 미칠 것으로 예상되지 않습니다.
퍼스트 인더스트리얼은 현재 2024년 12월 31일 기준으로 15개의 목표 MSA에서 약 6,950만 평방피트의 산업 공간을 소유하고 개발 중이며, 공급이 제한된 해안 지향 시장에 집중하고 있습니다.
First Industrial Realty Trust (NYSE: FR) a annoncé une initiative significative avec d'autres REIT industriels majeurs pour standardiser les calculs des métriques immobilières non-GAAP dans le secteur. La coalition, comprenant EastGroup Properties, Prologis et STAG Industrial, a mis à jour sa méthodologie pour des métriques clés telles que la stabilisation des propriétés, l'occupation, le changement de loyer et la fidélisation des clients.
Cette initiative s'appuie sur les efforts d'harmonisation de 2018 et affirme que les calculs annuels du portefeuille de magasins comparables n'incluront que les propriétés stabilisées tant dans les périodes actuelles que précédentes. La standardisation sera mise en œuvre dans les prévisions de First Industrial pour 2025 et ne devrait pas avoir d'impact matériel sur les métriques non-GAAP pour les périodes antérieures à 2025.
First Industrial possède actuellement et développe environ 69,5 millions de pieds carrés d'espace industriel dans 15 MSA cibles, en se concentrant sur des marchés orientés vers la côte et contraints en offre au 31 décembre 2024.
First Industrial Realty Trust (NYSE: FR) hat eine bedeutende Initiative zusammen mit anderen großen industriellen REITs angekündigt, um die Berechnung nicht-GAAP-Immobilienkennzahlen im Sektor zu standardisieren. Die Koalition, zu der EastGroup Properties, Prologis und STAG Industrial gehören, hat ihre Methodik für wichtige Kennzahlen wie Immobilienstabilisierung, Belegung, Mietänderung und Kundenbindung aktualisiert.
Die Initiative baut auf den Harmonisierungsefforts von 2018 auf und stellt fest, dass die jährlichen Berechnungen des Portfolios für vergleichbare Geschäfte nur Immobilien berücksichtigen, die sowohl in den aktuellen als auch in den vorherigen Zeiträumen stabilisiert wurden. Die Standardisierung wird in der Prognose von First Industrial für 2025 umgesetzt und wird voraussichtlich keine wesentlichen Auswirkungen auf nicht-GAAP-Kennzahlen für Zeiträume vor 2025 haben.
First Industrial besitzt derzeit und entwickelt etwa 69,5 Millionen Quadratfuß Industriefläche in 15 Ziel-MSA, wobei der Fokus auf angebotsbeschränkten, küstenorientierten Märkten liegt, Stand 31. Dezember 2024.
- Improved transparency and comparability across industrial REIT sector through standardized metrics
- Strong market presence with 69.5 million square feet of industrial space in strategic locations
- Focus on supply-constrained, coastally oriented markets indicating premium positioning
- None.
Building on the 2018 harmonization initiative, the Industrial REIT Group reaffirmed its approach to determining property stabilization, occupancy, rent change, and customer retention. Additionally, the annual same-store portfolio will continue to include only properties that were stabilized in both the current and prior periods presented. Criteria to exclude value-added and redevelopment properties from the same store portfolio was also reaffirmed.
All Industrial REIT Group members will align their non-GAAP metrics with these methodologies when the metric is disclosed. These methodologies are incorporated in First Industrial's 2025 guidance and are not expected to have a material impact on First Industrial's non-GAAP metrics for periods prior to 2025.
While minor differences may remain in calculation methods or terminology, the shared goal is to enhance consistency and comparability across the sector.
About First Industrial Realty Trust, Inc.
First Industrial Realty Trust, Inc. (NYSE: FR) is a leading
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SOURCE First Industrial Realty Trust, Inc.
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