Form 8-K - Current report

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

    Date of Report (Date of earliest event reported): January 09, 2025

   

FrontView REIT, Inc.

(Exact name of Registrant as Specified in Its Charter)


Maryland	001-42301	93-2133671
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3131 McKinney Avenue Suite L10
Dallas, Texas		75204
(Address of Principal Executive Offices)		(Zip Code)

    Registrant’s Telephone Number, Including Area Code: 214 796-2445

   

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock $0.01 par value per share	FVR	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

On January 9, 2025, FrontView REIT, Inc. (the “Company”) issued a press release providing 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. A copy of the release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information set forth in this Item 7.01 and in the attached Exhibit 99.1 is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of Section 18, nor shall such information be deemed to be incorporated by reference in any filing pursuant to the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

INDEX TO EXHIBITS


Exhibit No.	Description
99.1	Press Release dated January 9, 2025
104	Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


			FrontView REIT, Inc.

Date:	January 10, 2025	By:	/s/ Tim Dieffenbacher
			Name: Tim Dieffenbacher Title: Chief Financial Officer, Secretary, and Treasurer

EXHIBIT 99.1

For Immediate Release

January 9, 2025

FrontView REIT Announces Year-end Business Update and Schedules Fourth Quarter 2024 Earnings Release and Conference Call

Dallas, TX – 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.

Company Contact

media@frontviewreit.com

Document And Entity Information	Jan. 09, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 09, 2025
Entity Registrant Name	FrontView REIT, Inc.
Entity Central Index Key	0001988494
Entity Emerging Growth Company	true
Entity File Number	001-42301
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	93-2133671
Entity Address, Address Line One	3131 McKinney Avenue
Entity Address, Address Line Two	Suite L10
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75204
City Area Code	214
Local Phone Number	796-2445
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Ex Transition Period	false
Title of 12(b) Security	Common stock $0.01 par value per share
Trading Symbol	FVR
Security Exchange Name	NYSE