Company: FVR
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042774
Chunk: 174

Company: FrontView REIT, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 7
Chunk 174
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 in 2024 compared to $323.0 million in 2023. The increase is also due to the increase in interest rates during 2023. As of December 31, 2024 and 2023, the weighted average interest rate was 5.65% and 5.17%, respectively.

Gain on sale of real estate

During the period from January 1, 2024 to October 2, 2024, we sold five properties at a net gain of approximately $0.3 million.  During the year ended December 31, 2023, we sold two properties at a net gain of approximately $0.7 million. 

52

Impairment loss

The following table presents the impairment for the respective periods:

    Successor

    Predecessor

    Predecessor

    (in thousands, except number of properties)
     
    Period from October 3, 2024 through December 31, 2024

    Period from January 1, 2024 through October 2, 2024

    Year Ended December 31, 2023

    Number of properties

    3

    1

    2

    Carrying value prior to impairment loss
     
    $
    8,933

    $
    1,961

    $
    1,036

    Fair value

    5,042

    1,370

    629

    Impairment loss
     
    $
    3,891

    $
    591

    $
    407

During the period from January 1, 2024 to October 2, 2024, we recorded an impairment loss of $0.6 million relating to an asset held for investment. During the period from October 3, 2024 to December 31, 2024, we recorded impairment losses of $3.9 million relating to three assets held for sale. For the year ended December 31, 2023, we recorded an impairment loss of $0.2 million relating to an asset held for sale and an impairment loss of $0.2 million with respect to an asset held for investment. The timing and amount of impairment fluctuates each period based on existing facts and circumstances. 

Internalization expense

On October 2, 2024, the Company completed the Internalization and the Company’s management team and corporate staff, who were previously employed by NARS,