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

Company: FrontView REIT, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1
Chunk 10
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BUSINESS AND PROPERTIES

Our Company

FrontView is an internally-managed net-lease real estate investment trust ("REIT") that is experienced in acquiring, owning and managing properties with frontage that are net leased to a diversified group of tenants. We have chosen the name “FrontView” to represent our differentiated “real estate first” investment approach focused on properties that are in prominent locations with direct frontage on high-traffic roads that are highly visible to consumers. We are a growing net-lease REIT and own a well-diversified portfolio of 307 properties with direct frontage across 35 U.S. states as of December 31, 2024. Our tenants include service-oriented businesses, such as restaurants, cellular stores, financial institutions, automotive stores and dealers, medical and dental providers, convenience and gas stores, car washes, home improvement stores, grocery stores, professional services, fitness operators as well as general retail tenants. 

We focus on investing primarily in well-located, net-leased properties with frontage that provide high visibility to consumers. We believe our tenants value the prominent location of our properties with frontage on high-traffic roads that are highly visible to consumers and drive demand for their core business operations. In addition, our tenants are able to retain operational control of their strategically important locations through long-term net leases.

As of December 31, 2024, our portfolio comprised approximately 2.4 million rentable square feet of operational space and was highly diversified based on tenant, industry, and geography. As of December 31, 2024, our properties were located in 109 MSAs in 35 U.S. states, with no single state exceeding 13.2% of our ABR. Our portfolio’s occupancy rate was 97.7% as of December 31, 2024. Our properties were leased to 320 tenants that represented 150 different brands, with no single tenant brand accounting for more than 2.9% of our ABR. As of December 31, 2024, approximately 33.1% of our tenants had an investment-grade credit rating. As of December 31, 2024, approximately 97.3% of our leases (based on ABR) had contractual rent escalations, including, in some cases, pursuant to option terms. As of December 31, 2024, the ABR weighted average remaining term of our leases was approximately 7.2 years, excluding renewal options, and approximately