First Industrial Realty Trust, Inc., a prominent player in logistics real estate, has successfully refinanced two significant unsecured term loans totaling $800 million. On January 22, 2026, the company announced the refinancing of its $425 million term loan, which now features an initial maturity date of January 22, 2030, and an option for a one-year extension, contingent upon certain conditions.
This refinancing is structured to include interest-only payments at an interest rate tied to the Secured Overnight Financing Rate (SOFR) plus 85 basis points. Notably, the previous 10 basis point adjustment to SOFR was eliminated in this new arrangement. The refinancing was facilitated by a consortium of financial institutions, including Wells Fargo Securities, LLC and PNC Capital Markets LLC, who acted as Joint Lead Arrangers and Joint Book Runners.
In addition to the $425 million loan, First Industrial Realty Trust expanded its previously established $300 million term loan to $375 million. This facility also carries an initial maturity date of January 22, 2029, along with two optional one-year extensions. The interest arrangements mirror those of the refinancing of the first loan, eliminating the former 10 basis point SOFR adjustment.
The collaborative effort involved multiple financial institutions, including U.S. Bank National Association, Bank of America, N.A., and Regions Capital Markets. The latter institutions also took on various roles as Administrative Agent and Co-Documentation Agents. Additional notable participants in the refinancing include JPMorgan Chase Bank, N.A. and Royal Bank of Canada.
In conjunction with these refinancings, the company amended its existing $200 million unsecured term loan to also eliminate the 10 basis point SOFR adjustment.
In expressing gratitude for the successful refinancing, Scott Musil, Chief Financial Officer of First Industrial Realty Trust, Inc., stated, “We thank our banking partners for their commitments and support in refinancing these term loans, providing us capital to support our long-term growth.”
First Industrial Realty Trust, Inc. focuses exclusively on the U.S. market, managing a portfolio of logistics properties. As of September 30, 2025, the company owned and had under development approximately 70.4 million square feet of industrial space across 15 key metropolitan statistical areas (MSAs).
This refinancing positions First Industrial Realty Trust for sustained growth in the evolving logistics sector. By securing favorable financing terms, the company aims to enhance its operational capabilities and continue providing high-quality facilities and services to its clients.
For further details, visit www.firstindustrial.com.
