FrontView REIT Announces Year-end Business Update and Schedules Fourth Quarter 2024 Earnings Release and Conference Call
FrontView REIT (NYSE: FVR) has provided a Q4 2024 business update and announced its upcoming earnings release schedule. During Q4, the company acquired 29 new properties for $103.4 million at a weighted average cash capitalization rate of 7.9% and an average lease term of 11.0 years. These acquisitions span 7 industries, 17 tenants, and 16 states, including 12 new tenants and four new states.
The company has drawn down its $200 million delayed-draw term loan with a five-year duration and repaid its $253 million ABS notes using the term loan proceeds, revolver borrowings, and cash. Post-quarter, FrontView acquired one property for $2.0 million and has signed PSAs for an additional $53.0 million in properties. The company expects to meet or exceed its $50 million acquisition target for Q1 2025.
FrontView REIT (NYSE: FVR) ha fornito un aggiornamento aziendale per il Q4 2024 e ha annunciato il programma per il rilascio dei risultati trimestrali. Durante il Q4, l'azienda ha acquisito 29 nuove proprietà per 103,4 milioni di dollari con un tasso di capitalizzazione medio ponderato del 7,9% e una durata media dei contratti di locazione di 11,0 anni. Queste acquisizioni coprono 7 settori, 17 locatari e 16 stati, inclusi 12 nuovi locatari e quattro nuovi stati.
L'azienda ha utilizzato il suo prestito a termine da 200 milioni di dollari con posticipazione della durata di cinque anni e ha rimborsato i note ABS da 253 milioni di dollari utilizzando i proventi del prestito a termine, i prestiti revolving e contante. Dopo il trimestre, FrontView ha acquisito una proprietà per 2,0 milioni di dollari e ha firmato PSAs per ulteriori 53,0 milioni di dollari in proprietà. L'azienda prevede di raggiungere o superare il suo target di acquisizione di 50 milioni di dollari per il Q1 2025.
FrontView REIT (NYSE: FVR) ha proporcionado una actualización del negocio para el Q4 2024 y anunció su próxima programación para la publicación de resultados. Durante el Q4, la empresa adquirió 29 nuevas propiedades por 103.4 millones de dólares a una tasa de capitalización promedio ponderada del 7.9% y un plazo de arrendamiento promedio de 11.0 años. Estas adquisiciones abarcan 7 industrias, 17 inquilinos y 16 estados, incluidos 12 nuevos inquilinos y cuatro nuevos estados.
La empresa ha utilizado su préstamo a término diferido de 200 millones de dólares con una duración de cinco años y ha reembolsado sus bonos ABS por 253 millones de dólares utilizando los ingresos del préstamo a término, préstamos en línea y efectivo. Después del trimestre, FrontView adquirió una propiedad por 2.0 millones de dólares y firmó PSAs para propiedades adicionales por 53.0 millones de dólares. La empresa espera cumplir o superar su objetivo de adquisición de 50 millones de dólares para el Q1 2025.
프론트뷰 리트 (NYSE: FVR)는 2024년 4분기 비즈니스 업데이트를 제공하고 다가오는 수익 발표 일정을 발표했습니다. 4분기 동안, 회사는 1억 3400만 달러에 29개의 신규 자산을 인수했습니다. 자산 인수의 가중 평균 현금 수익률은 7.9%, 평균 임대 기간은 11.0년입니다. 이러한 인수는 7개 산업, 17명의 세입자 및 16개 주에 걸쳐 있으며, 12명의 신규 세입자와 4개의 신규 주를 포함합니다.
회사는 2억 달러 규모의 연기된 지급 대출을 이용했으며, 5년의 기간을 가집니다. 이를 통해 2억 5300만 달러 규모의 ABS 채권을 상환했습니다. 대출금, 회전 대출 및 현금을 활용하여 상환했습니다. 분기 이후, 프론트뷰는 200만 달러에 한 건의 자산을 인수했으며 추가적으로 5300만 달러 규모의 PSAs를 체결했습니다. 회사는 2025년 1분기 5000만 달러의 인수 목표를 달성하거나 초과할 것으로 기대하고 있습니다.
FrontView REIT (NYSE: FVR) a fourni une mise à jour commerciale pour le 4e trimestre 2024 et a annoncé son calendrier de publication des résultats à venir. Au cours du 4e trimestre, la société a acquis 29 nouvelles propriétés pour 103,4 millions de dollars, avec un taux de capitalisation moyen pondéré de 7,9 % et une durée de bail moyenne de 11,0 ans. Ces acquisitions couvrent 7 secteurs, 17 locataires et 16 États, dont 12 nouveaux locataires et quatre nouveaux États.
La société a tiré de son prêt à terme différé de 200 millions de dollars sur une durée de cinq ans et a remboursé ses notes ABS de 253 millions de dollars en utilisant les revenus du prêt à terme, des emprunts revolvers et des liquidités. Après le trimestre, FrontView a acquis une propriété pour 2,0 millions de dollars et a signé des PSA pour des propriétés supplémentaires d'un montant de 53,0 millions de dollars. La société s'attend à atteindre ou à dépasser son objectif d'acquisition de 50 millions de dollars pour le 1er trimestre 2025.
FrontView REIT (NYSE: FVR) hat ein Update für das Geschäft im 4. Quartal 2024 bereitgestellt und seinen bevorstehenden Zeitplan für die Ergebnisveröffentlichung angekündigt. Im 4. Quartal hat das Unternehmen 29 neue Immobilien für 103,4 Millionen Dollar zu einem gewichteten durchschnittlichen Kapitalisierungszins von 7,9% und einer durchschnittlichen Mietdauer von 11,0 Jahren erworben. Diese Akquisitionen decken 7 Branchen, 17 Mieter und 16 Bundesstaaten ab, einschließlich 12 neuer Mieter und vier neuer Bundesstaaten.
Das Unternehmen hat seinen 200 Millionen Dollar verzögerten Darlehensvertrag in Anspruch genommen, der eine Laufzeit von fünf Jahren hat, und hat seine ABS-Anleihen in Höhe von 253 Millionen Dollar mit den Erlösen aus dem Darlehen, revolvierende Krediten und Bargeld zurückgezahlt. Nach dem Quartal hat FrontView eine Immobilie für 2,0 Millionen Dollar erworben und hat PSA für zusätzliche Immobilien in Höhe von 53,0 Millionen Dollar unterzeichnet. Das Unternehmen erwartet, sein Akquisitionsziel von 50 Millionen Dollar für das 1. Quartal 2025 zu erreichen oder zu übertreffen.
- Acquired 29 properties worth $103.4 million with favorable 7.9% cash capitalization rate
- Secured $200 million term loan with favorable interest rate (SOFR + 1.2%)
- Successfully diversified portfolio across 7 industries and 17 tenants
- Signed PSAs for additional $53.0 million in properties
- Increased debt load with $200 million term loan draw
- Higher interest expenses expected due to new financing structure
Insights
The Q4 business update reveals substantial portfolio expansion with
The debt refinancing strategy is particularly noteworthy - replacing
In simple terms: They're buying more properties that generate steady income and they've restructured their debt to be more manageable. Think of it like refinancing a mortgage to get better terms while also expanding your real estate portfolio.
The acquisition metrics demonstrate strong market positioning in the net lease sector. A
The Q1 2025 acquisition target of
For the average investor: Frontage properties are like having retail space on Main Street instead of a side street - they're more visible and valuable, which usually means more reliable income and better long-term value.
Q4 2024 BUSINESS UPDATE
-
During the fourth quarter, we acquired 29 new properties for
$103.4 million 7.9% and a weighted average lease term of 11.0 years. The acquisitions were spread across 7 industries, 17 tenants, and 16 states, including 12 new tenants and four new states. -
Subsequent to quarter-end, we acquired one property for
$2.0 million $53.0 million -
On December 30, 2024, we drew down on our
$200 million 1.2% . -
On December 30, 2024, we repaid in full our
$253 million $200 million
MANAGEMENT COMMENTARY
“With over
CONFERENCE CALL AND WEBCAST
The Company will host its fourth quarter earnings conference call and audio webcast on Thursday, March 20, 2025, at 10:00 a.m. Central Time.
To access the live webcast, which will be available in listen-only mode, please visit: https://events.q4inc.com/attendee/968397175. If you prefer to listen via phone,
A replay of the conference call webcast will be available approximately one hour after the conclusion of the live broadcast. To listen to a replay of the call via the web, which will be available for one year, please visit: https://investor.frontviewreit.com.
About FrontView REIT, Inc.
FrontView is an internally-managed net-lease REIT that acquires, owns and manages primarily outparcel properties that are net leased to a diversified group of tenants. FrontView is differentiated by an investment approach focused on outparcel properties that are in prominent locations with direct frontage on high-traffic roads that are highly visible to consumers. As of December 31, 2024, FrontView owned a well-diversified portfolio of 307 outparcel properties with direct frontage across 35 U.S. states. FrontView’s tenants include service-oriented businesses, such as restaurants, cellular stores, financial institutions, automotive stores and dealers, medical and dental providers, pharmacies, convenience and gas stores, car washes, home improvement stores, grocery stores, professional services as well as general retail tenants.
Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies, and prospects, both business and financial. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “outlook,” “potential,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “projects,” “predicts,” “expect,” “intends,” “anticipates,” “estimates,” “plans,” “would be,” “believes,” “continues,” or the negative version of these words or other comparable words. Forward-looking statements, including our 2025 guidance and assumptions, involve known and unknown risks and uncertainties, which may cause FVR’s actual future results to differ materially from expected results, including, without limitation, risks and uncertainties related to general economic conditions, including but not limited to increases in the rate of inflation and/or interest rates, local real estate conditions, tenant financial health, property investments and acquisitions, and the timing and uncertainty of completing these property investments and acquisitions, and uncertainties regarding future distributions to our stockholders. These and other risks, assumptions, and uncertainties are described in “Risk Factors” of the Company’s Prospectus, which was filed with the SEC on October 2, 2024, which you are encouraged to read, and is available on the SEC’s website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company assumes no obligation to, and does not currently intend to, update any forward-looking statements after the date of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250109418831/en/
Source: FrontView REIT, Inc.
FAQ
What was FrontView REIT's (FVR) total acquisition value in Q4 2024?
What is the weighted average lease term for FVR's Q4 2024 property acquisitions?
How did FrontView REIT (FVR) refinance its ABS notes in Q4 2024?
What is FrontView REIT's (FVR) acquisition target for Q1 2025?
What is the interest rate on FVR's new $200 million term loan?
