Company: FVR
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042774
Chunk: 126

Company: FrontView REIT, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 126
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 remaining term. The values of the above- and below-market leases are amortized to rental revenues over the remaining term of the related leases. The fair values of in-place leases and origination costs are determined based on the estimates of carrying costs during the expected lease-up periods and costs that would be incurred to put the existing leases in place under the same market terms and conditions. In the event a tenant terminates its lease, the unamortized portion of the related intangible values is written off immediately. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the asset:  

          Asset
          Estimated useful lives

          Buildings and improvements
          16 – 54 years

          Site improvements
          4 – 28 years

          Tenant improvements
          Shorter of the lease term or useful life

          In-place leases and origination costs
          Remaining lease term

          Leasing fees
          Remaining lease term

          Above- and below market leases
          Remaining lease term
         
         Repairs and maintenance are charged to operations as incurred; major renewals and betterments that extend the useful life or improve the operating capacity of the asset are capitalized. d)Assets held for sale The Company classifies assets held for sale when all of the following criteria are met: (1) management commits to a plan to sell the property, (2) the property is available for immediate sale in its present condition, subject only to terms that are usual and customary for sale of real estate properties, (3) an active program to locate a buyer and conduct other actions required to complete the sale has been initiated, (4) the sale of the property is probable and is expected to qualify as a completed sale, (5) the property is actively marketed for sale at a price that is reasonable in relation to its fair value, and (6) actions required to complete the sale indicate that it is unlikely that any significant changes will be made or that the plan to sell will be withdrawn. 

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For properties classified as held for sale, the Company suspends depreciation and amortization of the real estate properties, including the related intangible lease assets and liabilities, as well as straight-line revenue recognition of the associated lease. Properties held for sale are carried as the lower of cost or fair value, less estimated selling costs. If the estimated fair value less selling costs is lower than the carrying value, the difference will be recorded as an impairment on assets held for sale in the