Friday, March 17, 2006

First Industrial Realty Trust Forms $900 Million Net Lease Co-Investment Program

PRNewswire-FirstCall - March 15, 2006

First Industrial Realty Trust, Inc. (NYSE: FR), the nation's largest provider of diversified industrial real estate, announced today that it has formed a net lease co-investment program with UBS Wealth Management-North American Property Fund Limited, a fund managed and advised on behalf of the international clients of UBS AG, a world-wide financial institution. The Program is targeting long-term single tenant net lease industrial properties throughout the United States with an investment horizon of seven to ten years.

UBS-NAPF has allocated up to $255 million in equity and First Industrial expects to co-invest up to $45 million in equity, representing an 85% and 15% equity interest, respectively. Based on expected leverage of 60% to 70%, the total capitalization of the Program could reach approximately $900 million. First Industrial will manage the properties through its full-service offices across the country. Sphere: Related Content

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