921825--3/3/2010--FIRST_INDUSTRIAL_REALTY_TRUST

related topics

{debt, indebtedness, cash}

{investment, property, distribution}

{tax, income, asset}

{loan, real, estate}

{acquisition, growth, future}

{loss, insurance, financial}

{cost, regulation, environmental}

{operation, international, foreign}

{provision, law, control}

{stock, price, share}

Many real estate costs are fixed, even if income from properties decreases. The Company may be unable to sell properties when appropriate because real estate investments are not as liquid as certain other types of assets. The Company may be unable to sell properties on advantageous terms. The Company may be unable to complete development and re-development projects on advantageous terms. The Company may be unable to renew leases or find other lessees. The Company may be unable to acquire properties on advantageous terms or acquisitions may not perform as the Company expects. The Company might fail to qualify or remain qualified as a REIT. Certain property transfers may generate prohibited transaction income, resulting in a penalty tax on the gain attributable to the transaction. The REIT distribution requirements may limit the Company s ability to retain capital and require the Company to turn to external financing sources. Debt financing, the degree of leverage and rising interest rates could reduce the Company s cash flow. Failure to comply with covenants in our debt agreements could adversely affect our financial condition. Cross-collateralization of mortgage loans could result in foreclosure on substantially all of the Company s properties if the Company is unable to service its indebtedness. The Company may have to make lump-sum payments on its existing indebtedness. There is no limitation on debt in the Company s organizational documents. Rising interest rates on the Company s Unsecured Line of Credit could decrease the Company s available cash. The Company s mortgages may impact the Company s ability to sell encumbered properties on advantageous terms or at all. Adverse market and economic conditions could cause us to recognize additional impairment charges. Earnings and cash dividends, asset value and market interest rates affect the price of the Company s common stock. The Company may incur unanticipated costs and liabilities due to environmental problems. The Company s insurance coverage does not include all potential losses. The Company is subject to risks and liabilities in connection with its investments in properties through Joint Ventures. We are subject to risks associated with our international operations.

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921825--3/3/2010--FIRST_INDUSTRIAL_REALTY_TRUST_INC