Company: FVR
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042774
Chunk: 97

Company: FrontView REIT, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 97
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 on a straight-line basis

    322

    971

    1,350

    Variable rental amounts earned

    378

    1,555

    185

    Above/below market lease amortization, net

    (164
    )

    (1,341
    )

    (1,469
    )

    Other income

    12

    243

    299

    Total rental revenues
     
    $
    15,177

    $
    44,740

    $
    48,266

Contractual rental amounts billed for the period from January 1, 2024 to October 2, 2024 of $43.3 million and for the period from October 3, 2024 to December 31, 2024 of $14.6 million, increased by $10.0 million from $47.9 million for the year ended December 31, 2023. This $10.0 million increase was attributable to (i) the increase in contractual base rent from the consolidation of the 54 properties acquired as part of the 50/50 Joint Venture Acquisition in October 2023, (ii) recognizing a full year of revenue for all acquisitions made during 2023, (iii) growth of our real estate portfolio through 29 acquisitions during 2024 and (iv) same-store rent growth from our in-place lease escalations. This increase was partially offset by the decrease in contractual base rent from the five properties sold throughout 2024.

51

Variable rental amounts earned for the period from January 1, 2024 to October 2, 2024 of $1.6 million and for the period from October 3, 2024 to December 31, 2024 of $0.4 million, increased by $1.8 million from $0.2 million for the year ended December 31, 2023. This $1.8 million increase was mainly due to lease termination fee income received during the period from January 1, 2024 to October 2, 2024 and for the period from October 3, 2024 to December 31, 2024. The timing and amount of lease termination income fluctuates each period.

Operating Expenses 

Depreciation and amortization 

Depreciation and amortization for the period from January 1, 2024 to October 2, 2024 of $21.6