FrontView REIT, Inc. (NYSE: FVR) (the “Company”, “FrontView”,
“we”, “our”, or “us”), today provided a business update for the
quarter ended December 31, 2024. Additionally, the Company
announced that it will release its financial and operating results
for the quarter and year ended December 31, 2024, after the market
closes on Wednesday, March 19, 2025. The Company will host its
earnings conference call and audio webcast on Thursday, March 20,
2025, at 10:00 a.m. Central Time.
Q4 2024 BUSINESS UPDATE
- During the fourth quarter, we acquired 29 new properties for
$103.4 million at a weighted average cash capitalization rate of
7.9% and a weighted average lease term of 11.0 years. The
acquisitions were spread across 7 industries, 17 tenants, and 16
states, including 12 new tenants and four new states.
- Subsequent to quarter-end, we acquired one property for $2.0
million and have signed PSAs for an additional $53.0 million of
properties.
- On December 30, 2024, we drew down on our $200 million
delayed-draw term loan in full. The term loan has a five-year
duration after consideration of extension options and bears
interest at adjusted SOFR plus 1.2%.
- On December 30, 2024, we repaid in full our $253 million ABS
notes using proceeds from the $200 million delayed-draw term loan,
revolver borrowings, and available cash on hand.
MANAGEMENT COMMENTARY
“With over $100 million in acquisitions closed during the fourth
quarter, we have demonstrated our ability to grow our portfolio of
high-quality properties with frontage utilizing our existing
infrastructure,” said Stephen Preston, FrontView’s Chairman,
Co-CEO, and Co-President. “Now that we’ve successfully addressed
our near-term maturities with the repayment of our ABS notes at the
end of the quarter, we’re in a position to demonstrate what we can
do going forward. We will continue to deploy capital prudently and
expect to meet or exceed our previously reported $50 million
acquisition target for the first quarter of 2025. We look forward
to continuing to report to the markets along with our upcoming
earnings release and conference call on March 19 and 20, 2025,
respectively.”
CONFERENCE CALL AND WEBCAST
The Company will host its fourth quarter earnings conference
call and audio webcast on Thursday, March 20, 2025, at 10:00 a.m.
Central Time.
To access the live webcast, which will be available in
listen-only mode, please visit:
https://events.q4inc.com/attendee/968397175. If you prefer to
listen via phone, U.S. participants may dial: 1-800-549-8228 (toll
free) or 646-564-2877 (local), conference ID 76353.
A replay of the conference call webcast will be available
approximately one hour after the conclusion of the live broadcast.
To listen to a replay of the call via the web, which will be
available for one year, please visit:
https://investor.frontviewreit.com.
About FrontView REIT, Inc.
FrontView is an internally-managed net-lease REIT that acquires,
owns and manages primarily outparcel properties that are net leased
to a diversified group of tenants. FrontView is differentiated by
an investment approach focused on outparcel properties that are in
prominent locations with direct frontage on high-traffic roads that
are highly visible to consumers. As of December 31, 2024, FrontView
owned a well-diversified portfolio of 307 outparcel properties with
direct frontage across 35 U.S. states. FrontView’s tenants include
service-oriented businesses, such as restaurants, cellular stores,
financial institutions, automotive stores and dealers, medical and
dental providers, pharmacies, convenience and gas stores, car
washes, home improvement stores, grocery stores, professional
services as well as general retail tenants.
Forward-Looking Statements
This press release contains “forward-looking” statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding, among other things, our plans, strategies, and
prospects, both business and financial. Such forward-looking
statements can generally be identified by our use of
forward-looking terminology such as “outlook,” “potential,” “may,”
“will,” “should,” “could,” “seeks,” “approximately,” “projects,”
“predicts,” “expect,” “intends,” “anticipates,” “estimates,”
“plans,” “would be,” “believes,” “continues,” or the negative
version of these words or other comparable words. Forward-looking
statements, including our 2025 guidance and assumptions, involve
known and unknown risks and uncertainties, which may cause FVR’s
actual future results to differ materially from expected results,
including, without limitation, risks and uncertainties related to
general economic conditions, including but not limited to increases
in the rate of inflation and/or interest rates, local real estate
conditions, tenant financial health, property investments and
acquisitions, and the timing and uncertainty of completing these
property investments and acquisitions, and uncertainties regarding
future distributions to our stockholders. These and other risks,
assumptions, and uncertainties are described in “Risk Factors” of
the Company’s Prospectus, which was filed with the SEC on October
2, 2024, which you are encouraged to read, and is available on the
SEC’s website at www.sec.gov. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those indicated
or anticipated by such forward-looking statements. Accordingly, you
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date they are made. The
Company assumes no obligation to, and does not currently intend to,
update any forward-looking statements after the date of this press
release, whether as a result of new information, future events,
changes in assumptions, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20250109418831/en/
media@frontviewreit.com
FrontView Reit (NYSE:FVR)
過去 株価チャート
から 1 2025 まで 2 2025
FrontView Reit (NYSE:FVR)
過去 株価チャート
から 2 2024 まで 2 2025
