Company: FVR
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042774
Chunk: 150

Company: FrontView REIT, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 150
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ATED FINANCIAL STATEMENTS 

As of December 31, 2024 and for the Three Months and Year Ended December 31, 2024

Adjustments to the Unaudited Pro Forma Consolidated Balance Sheet 

There are no adjustments to the unaudited pro forma consolidated balance sheet as at December 31, 2024.

Adjustments to the Unaudited Pro Forma Consolidated Statement of Income (Loss)

The adjustments to the unaudited pro forma consolidated statement of income (loss) for the three months and year ended December 31, 2024 are as follows: 

A.Reflects the audited historical consolidated statement of income (loss) of the Successor for the three months and year ended December 31, 2024. The Company completed its IPO on October 3, 2024. The period from October 1 to October 2, 2024 is deemed immaterial. As such, three months ended December 31, 2024 was used as the historical starting point for the purposes of the three months ended December 31, 2024 unaudited pro forma consolidated statement of income (loss).

B.Represents the net adjustments required to the historical results of the Company to reflect the following:

For the 29 properties acquired by the Company during the year ended December 31, 2024, the adjustment to the Company’s consolidated statement of income (loss) reflects the operations of these properties assuming the acquisitions occurred on January 1, 2024. 

This includes the following: 

    (in thousands)
    For The Three Months Ended December 31, 2024
     
    For The Year Ended December 31, 2024

    Rental revenue
    $
    1,354
     
    $
    7,481

    Depreciation and amortization
     
    776

    4,348

C.Represents the net adjustments required to the historical results of the Company to reflect the following:

For the five properties disposed by the Predecessor during the period from January 1, 2024 through September 30, 2024, the results of these properties have been eliminated as they will not have a continuing impact on the Company’s consolidated statement of income (loss), assuming completion of the dispositions had occurred on January 1, 2024. No properties were disposed during the three months ended December 31, 2024.

This includes the following:

    (