Company: FVR
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042774
Chunk: 136

Company: FrontView REIT, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 136
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        (a)
         
        28-Dec-2024
         
        3.37%
         
        $
        254,489

        CIBC Bank USA, Revolving Credit Facility
         
        (b)
         
        8-Mar-2025
         
        Adjusted Term SOFR + 2.25% **

        168,890

        CIBC Bank USA, Term Loan
         
        (c)
         
        31-Mar-2027
         
        Term SOFR + 1.80% **

        17,000

        Unamortized financing transaction and discount costs

        (3,927
        )

        $
        436,452

      ** The approximate one-month Term SOFR rate (as defined below) at December 31, 2023 was 5.38%, plus a 10 basis point adjustment (“Adjusted Term SOFR”). As of December 31, 2024 and 2023, the weighted average interest rate was 5.65% and 5.17%, respectively. 

77

The aggregate principal repayment of the Company’s debt, excluding the unamortized financing transaction costs of $1,962, due in each of the years under the remaining term, are as follows:  

        2025
         
        $
        —

        2026

        —

        2027

        268,500

        $
        268,500

       (a)Asset Backed Securities On December 9, 2019, the Predecessor and the Joint Venture issued 3.37% Series 2019-1, Class A (rated by Standard & Poors and Kroll Bond Rating Agency) Net-Lease Mortgage Notes (the “ABS Notes”) for gross proceeds of $192,935 and $71,065, respectively, pursuant to the Master Indenture Agreement, among the 95 and 40 properties directly or indirectly owned, as of that date, by the Predecessor and Joint Venture, respectively (collectively, the “Issuers”), and the Indenture Trustee. On October 20, 2023, the Predecessor acquired the remaining 50% interest in the Joint Venture held by the JV Partner and assumed debt at fair value of $66,907, net of a discount of $2,824. As of December 31, 2023, the ABS Notes are secured