FrontView REIT, a commercial REIT focused on outparcel properties, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
FrontView is an internally-managed net-lease REIT that specializes in acquiring, owning, and managing outparcel properties across the United States. The company focuses on well-located properties with direct frontage on high-traffic roads, providing high visibility to consumers. As of June 30, 2024, FrontView's portfolio comprised 278 properties across 31 states, totaling approximately 2.1 million rentable square feet. Its tenants include service-oriented businesses such as restaurants, cellular stores, financial institutions, automotive stores, and medical providers.
The Dallas, TX-based company was founded in 1999 and booked $56 million in revenue for the 12 months ended June 30, 2024. It plans to list on the NYSE under the symbol FVR. Morgan Stanley, J.P. Morgan, Wells Fargo Securities, and BofA Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
