Company: FVR
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042774
Chunk: 148

Company: FrontView REIT, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 148
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, and (4) do not purport to be indicative of the Company’s future results of operations or financial position.

2024 Acquisitions and Dispositions 

During the year ended December 31, 2024, the Company completed 29 property acquisitions with an aggregate purchase price of $104.2 million. The unaudited pro forma consolidated statement of income (loss) for the three months and year ended December 31, 2024 gives effect to these property acquisitions as if these events had occurred on January 1, 2024.

During the period from January 1, 2024 through October 2, 2024, the Predecessor completed five property dispositions with an aggregate sale price, including transaction costs, of $10.1 million. The unaudited pro forma consolidated statement of income (loss) for the three months and year ended December 31, 2024 gives effect to these property dispositions as if these events had occurred on January 1, 2024.

Autonomous Entity Adjustments 

As a public company, the Company expects to incur incremental costs related to general and administrative costs, including employee compensation and benefits, board of directors’ fees and expenses, directors’ and officers’ insurance, and incremental legal, audit, tax, consulting and other costs related to the corporate infrastructure. The Company will also incur additional costs relating to its public reporting and compliance obligations as a public company. For the three months and year ended December 31, 2024, the Company estimates these incremental costs to amount to $0.6 million and $2.7 million, respectively. In order to determine these incremental costs, the Company performed an analysis of its anticipated organizational structure to estimate the cost of additional resources and third-party services deemed necessary to operate as a public company.

92

FRONTVIEW REIT, INC.

UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF INCOME (LOSS) 

FOR THE THREE MONTHS ENDED December 31, 2024 

(in thousands, except per share amounts) 

    Pro Forma Adjustments

    Historical Company(A)

    Completed 2024 Acquisitions (B)

    Adjustment for Interest Expense(D)

    Adjustment for General and Administrative Expenses(E)

    CompanyProForma

    Revenues

    Rental revenues
    $
    15,514

    $
    1,354

    $
    —

    $
    —

    $
    16,868

    Operating expenses

    Depreciation and amort