Company: FVR
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042774
Chunk: 210

Company: FrontView REIT, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 8
Chunk 210
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 purchase price of $104,184. The majority of properties acquired during the year ended December 31, 2024, were leased at acquisition with an average remaining lease term of approximately 11.3 years.During the year ended December 31, 2023, the Company acquired 26 properties for an aggregate purchase price of $75,039, including acquisition costs totaling $1,380. All properties acquired during the year ended December 31, 2023, were leased at acquisition with an average remaining lease term of approximately 8.2 years. Additionally, the Company acquired the remaining 50% interest in the Joint Venture held by the Joint Venture Partner, which consists of 54 properties as of the date of acquisition. The acquisitions were all accounted for as asset acquisitions. The Company allocated the purchase price of these properties to the fair values of the assets and liabilities assumed, which is summarized in the following table:  

        Successor
         
        Predecessor

        (in thousands)
         
        December 31, 2024
         
        December 31, 2023

        Land
         
        $
        28,597
         
        $
        27,115

        Buildings

        51,138

        33,934

        Site improvements

        8,423

        4,695

        Other assets

        340

        —

        Intangible assets:

        Above-market leases

        7,311

        1,262

        In-place leases and origination costs

        10,846

        10,176

        106,655

        77,182

        Liabilities assumed:

        Below-market leases intangible liabilities

        (1,649
        )
         
        (1,793
        )

        Accounts payable and accrued liabilities

        (822
        )
         
        (350
        )

        Purchase price (including acquisition costs)
         
        $
        104,184
         
        $
        75,039

       During the year ended December 31, 2024, the Company sold five real estate properties for $11,005. The Company received net proceeds of $10,079 after paying closing costs of $926 and recorded a gain on sale of $337. The aggregate cost and associated accumulated depreciation and amortization of the properties sold, at the date of sales, were $10,248 and $739 respectively.The depreciation