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First Industrial Realty Trust's CEO Hosts Analyst Day - Conference Call Transcript

And we return our investing, we bought out a partner in 85% interest in a property in Huston, and we are doing a development in Southern California, and both of those Jojo will talk about in detail.

Today you are going to hear from our leadership team and again as you could see on the grey here at the group, but we have a great experience with our team and you will hear from them. We also have an attendant, Chris Schneider, our Senior Vice President Operations; Chris Willson, our Senior Regional Director of Minneapolis; Jeff Thomas, our Senior Regional Director from Pennsylvania; and he will be with us on the bus tomorrow; John Strabel, our Regional Director from Detroit; Art Harmon, our Head of IR; we have Jen Jimenez of our Marketing Group and (inaudible) of our Operations Group.

As you know, we have a broad platform and presence, we expand the U.S., we go from LA to New Jersey, from Minneapolis to Miami and again, we think that’s great because it gives us diversity and also it gives us access to market trends and we’ve got boots on the ground in most of these places.

In terms of our public platform, most important thing you should note is we simplified it, we use to have a lot of different joint ventures, now we only have one, less than $200 million of assets, of which we own 15% of it and it’s in the disposition phase of over the next three to five years that will be going away. It’s hard to put together an industrial platform because the properties are so [biside], it’s hard to assemble a portfolio of what we have about 67 million square feet.

We have boots on the ground; we have a local presence as well as national experts. And again, we’ve been experienced across all real estate cycles, so we have talent that’s going to least operate few acquisitions, do development, do redevelopment and do dispositions and hopefully you’ll have a chance today you had, this morning to talk to some of our teams and at lunch too and also in the bus ride, there will be another opportunity.

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