#United States #Chicago #Board of Directors #First Industrial #Frank E. Schmitz

Frank E. Schmitz Joins First Industrial Realty Trust's Board of Directors

In an important move for First Industrial Realty Trust, Inc. (NYSE: FR), Frank E. Schmitz has been appointed to its Board of Directors, effective June 1, 2026. This appointment reflects the company's commitment to strengthening its leadership as it navigates the complexities of the logistics real estate market. The Board will now consist of seven members, with six of them being independent directors.

Matthew S. Dominski, Chairman of the Board, expressed enthusiasm about Schmitz's addition, stating, "We are excited to welcome Frank to our Board of Directors. His extensive experience in global real estate investment and capital markets, along with his valuable relationships within the institutional investor community, will be a tremendous asset to us. His insights into capital formation and investment strategies will enhance our capabilities as we pursue new opportunities in our portfolio and development pipeline."

Schmitz's Background

Frank Schmitz brings nearly forty years of experience in real estate investment and capital advisory to his new role. Currently, he serves as a Senior Advisor at PJT Partners, collaborating with real estate investment management firms globally. He co-founded Park Hill Real Estate Group in 2005, a firm that became part of PJT Partners in 2015, where it expanded its reach and acquisition prowess in the marketplace.

Before co-founding Park Hill, Schmitz was a Managing Director and the Head of Real Estate Equity at Principal Real Estate Investors. Here, he managed a robust $12 billion real estate equity portfolio, overseeing both private and public clients' investment strategies. His career began at Northern Trust Bank of Chicago, where he specialized in commercial real estate lending.

In addition, Schmitz is currently a board member at Hubbell Realty Company, further demonstrating his commitment and extensive network within the real estate community. He holds a Bachelor’s degree in Economics and Political Science from Northwestern University and an MBA from the University of Chicago Booth School of Business.

Share Repurchase Authorization

In conjunction with Schmitz's appointment, First Industrial Realty Trust announced a new share repurchase authorization for up to $250 million in common stock. This initiative is a strategic component of their disciplined capital allocation strategy, aiming to enhance shareholder value. The company's ability to manage its stock buybacks effectively suggests a confidence in its strong portfolio and financial position moving forward.

The repurchases will be executed opportunistically based on market conditions, the company's stock price, and strategic investment opportunities. Notably, this new authorization comes without an expiration date, indicating a flexible approach to capital management that can adapt to changing market dynamics.

Upcoming Investor Engagements

Looking ahead, First Industrial also plans to host market tours for investors and analysts throughout 2026. These tours aim to provide deeper insights into the company's operations and future strategies, although specific details are yet to be announced.

Company Overview

First Industrial Realty Trust, Inc. specializes in the ownership, operation, and development of logistics properties across the United States. With a fully integrated platform, the company focuses on delivering high-quality industrial spaces and exceptional customer service to ensure optimal supply chain solutions for its clients. As of December 31, 2025, First Industrial boasts approximately 71.6 million square feet of industrial space under ownership or in development, strategically targeted in 15 metropolitan statistical areas.

As First Industrial Realty Trust continues to evolve under new leadership, the appointment of Frank E. Schmitz to the board marks a significant step toward enriching its leadership depth and pursuing new growth opportunities within the logistics real estate market. His background and experience are expected to contribute significantly to the company’s trajectory in the coming years.