ADDED
Excludes shares of the registrant s Common Stock held as of such date by officers and directors that the registrant has concluded are or were affiliates of the registrant.
Exclusion of such shares should not be construed to indicate that the holder of any such shares possesses the power, direct or indirect, to direct or cause the direction of the management or policies of the registrant or that such person is controlled by or under common control with the registrant.
Explanatory Note and Certain Defined Terms Unless the context otherwise requires, the following terms and phrases are used throughout this Annual Report on Form 10-K as described below: 50/50 Joint Venture means the joint venture previously held by our Predecessor and entities representing certain Canadian investors for the ownership of 54 properties; ABS Notes means the $264.0 million net-lease mortgage notes, dated December 9, 2019 and among the Predecessor, 50/50 Joint Venture and the Indenture Trustee.
SOFR means the Secured Overnight Financing Rate, which is the applicable reference rate for borrowings under the Company s Revolving Credit Facility and Term Loan.
We have selected the name FrontView to reflect our unique real estate first investment strategy.
This approach targets properties with frontage located in prominent retail areas that can attract multiple tenants and can have replaceable rents.
Our target properties have direct frontage on high-traffic roads, ensuring high visibility to consumers with adaptable spaces that can typically work for various usages.
We are a growing net-lease REIT and own a well-diversified portfolio of 303 properties with direct frontage across 37 U.S.
FrontView's tenants typically include service-oriented businesses, such as medical and dental providers, quick service restaurants, casual dining, other service providers, financial institutions, cellular stores, automotive stores, fitness operators, discount retail, convenience stores and gas stations, automotive dealers, car washes, home improvement stores, other necessity tenants, pharmacies, as well as professional services tenants.
We typically invest in net-leased properties located in larger populated markets, within active retail corridors, and in areas with direct visibility on high-traffic roads.
REMOVED
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.
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.
As of December 31, 2024, our properties were located in 109 MSAs in 35 U.S.
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.