Successful IPO and Acquisition Growth
FrontView REIT completed a successful IPO in October 2024 and acquired $103.4 million of properties in Q4 2024 at an average cap rate of 7.93% and a weighted average lease term of 11 years.
Strong Portfolio Performance
As of December 31, 2024, FrontView's portfolio consisted of 307 freestanding properties with an average remaining lease term of over seven years, diversified across 35 states and 109 metro areas, with a strong occupancy rate of approximately 98%.
Robust Acquisition Pipeline
FrontView closed $37.9 million of property in Q1 2025 at an average cap rate of 7.8%, with an additional $18.2 million under contract at an average cap rate of 8.25%, exceeding previous cap rate guidance.
Strong Financial Management
FrontView reported AFFO per share of $0.33 for 2024, in line with guidance, and successfully repaid ABS notes in full, enhancing financial flexibility with a new $250 million revolving credit facility and a $200 million term loan.
Prudent Capital Allocation
FrontView secured a $200 million term loan at a SOFR rate of 3.66%, representing an all-in borrowing rate of 4.96%, and has a net debt ratio of 5.2 times, demonstrating a prudent approach to leverage.