Portfolio Optimization and Strategic Dispositions
FrontView optimized its portfolio by selling 15 properties for $32.9 million, improving the portfolio's quality by eliminating exposure to underperforming concepts like Ruby Tuesday and Red Lobster.
Strong Acquisition Pipeline
FrontView acquired 3 properties for $15.8 million at an average cap rate of 7.5%, with plans for further acquisitions supported by a $75 million convertible preferred equity investment.
Improved Occupancy
The company closed the quarter with occupancy over 98%, resolving previously reported troubled assets and improving from last quarter.
Enhanced Capital Structure
FrontView announced a $75 million convertible preferred equity investment, providing capital for growth with favorable terms, including no penalties or governance requirements.
Guidance Increase
AFFO per share guidance increased to $1.23-$1.25 for 2025, with expectations of $0.30 in AFFO per share in Q4, driven by strategic acquisitions and efficient capital deployment.