Reported Earlier, FrontView REIT Acquires 29 Properties Across 16 States in Q4 for $103.4M, $200M Term Loan Drawdown Enables Full Repayment of ABS Notes, Expands Tenant and Geographic Footprint

Benzinga · Jan 10 15:03

During the fourth quarter, we acquired 29 new properties for $103.4 million at a weighted average cash capitalization rate of 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 and have signed PSAs for an additional $53.0 million of properties.
On December 30, 2024, we drew down on our $200 million delayed-draw term loan in full. The term loan has a five-year duration after consideration of extension options and bears interest at adjusted SOFR plus 1.2%.
On December 30, 2024, we repaid in full our $253 million ABS notes using proceeds from the $200 million delayed-draw term loan, revolver borrowings, and available cash on hand.

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Reported Earlier, FrontView REIT Acquires 29 Properties Across 16 States in Q4 for $103.4M, $200M Term Loan Drawdown Enables Full Repayment of ABS Notes, Expands Tenant and Geographic Footprint

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