FrontView REIT acquired 29 new properties in Q4 for $103.4M

FrontView REIT (FVR), in an update, said “During the fourth quarter, we acquired 29 new properties for $103.4M 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 $2M and have signed PSAs for an additional $53M of properties. On December 30, 2024, we drew down on our $200M 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 $253M ABS notes using proceeds from the $200M delayed-draw term loan, revolver borrowings, and available cash on hand.”