Company: FVR
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042774
Chunk: 112

Company: FrontView REIT, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 112
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 could be useful to repay debt, compared to our performance as measured using EBITDAre and Annualized Adjusted EBITDAre, which are described above.

The following table reconciles total debt (which is the most comparable GAAP measure) to Net Debt, and presents the ratios of Net Debt to EBITDAre and Net Debt to Annualized Adjusted EBITDAre: 

Reconciliation of total debt to Net Debt and ratio of Net Debt to Annualized EBITDAre and Net Debt to Annualized Adjusted EBITDAre

    December 31,

    Pro Forma

    Historical

    Historical

    (in thousands)
     
    2024

    2024

    2023

    Debt

    Term Loan
     
    $
    200,000

    $
    200,000

    $
    —

    Revolving Credit Facility

    68,500

    68,500

    —

    ABS Notes

    —

    —

    254,489

    CIBC Revolving Credit Facility

    —

    —

    168,890

    CIBC Term Loan

    —

    —

    17,000

    Gross Debt

    268,500

    268,500

    440,379

    Cash, cash equivalents and restricted cash

    (5,094
    )

    (5,094
    )

    (17,129
    )

    Net Debt
     
    $
    263,406

    $
    263,406

    $
    423,250

    Leverage Ratios:

    Net Debt to Annualized EBITDAre

    (13.3
    )

    (10.7
    )

    11.0

    Net Debt to Annualized Adjusted EBITDAre

    5.5

    5.2

    9.6

Critical Accounting Policies and Estimates

The preparation of the historical consolidated financial statements in conformance with GAAP requires management to make estimates and assumptions that are subjective in nature and affect the reported amounts of assets, liabilities, revenues, and expenses as well as other disclosures in the consolidated financial statements. We base our estimates on historical experience and on various other assumptions believed to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates and assumptions, however, our actual results could differ materially from our estimates. A summary of our significant accounting policies is