Frontview Reit, Inc. · NYSE:FVR
Frontview Reit — Investor Presentation (May 2025)
24 slides from Frontview Reit's investor presentation, May 15, 2025
Slide 1: Investor Presentation May 15, 2025
Investor Presentation May 15, 2025 EX-99.1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by FrontView REIT, Inc. ("we," "us," "our," "FrontView" or the "Company") for informational purposes only and not for any other purpose. Nothing contained in this presentation is, or should be construed as, a recommendation, promise or representation by
Slide 3: FrontView REIT's Evolution
FrontView REIT’s Evolution Investment Thesis Formulated Through Decades of Experience Developing Real Estate Careful Construction Of Unique Outparcel Portfolio Foundation Evaluation of retail shopping center portfolio performance highlighted unique, favorable characteristics of outparcels Prior to F
Slide 4: FrontView REIT Highlights
FrontView REIT Highlights Diversified Portfolio of Net Lease Properties With Frontage Experienced Management Team With Proven Track Record High Growth Prospects Through Consistent Actionable Acquisition Opportunities Competitive Advantages Within Vast Marketplace Value-Enhancing Asset Management Cap
Slide 5: Portfolio Snapshot
Source: Portfolio Snapshot(1) Left Border Right Border Notes: Portfolio Snapshot Data as of 3/31/2025 Based on number of properties Weighted by annualized base rent and does not include lease extensions As a percent of annualized base rent 323 2.6M 151 Total Properties Square Feet Brands 37 ~96% 7.4
Slide 6: Q1 2025 Business and Financial Update
Q1 2025 Business and Financial Update (1) Q1 2025 Revenue: $16.2 million, 6% Y-o-Y increase Q1 2025 FFO: $6.4 million / $0.23 per share, 55% Y-o-Y increase Q1 2025 AFFO: $8.2 million / $0.30 per share, 65% Y-o-Y increase 323 Properties / 2.6 million square feet 329 Tenants 96% Occupancy 7.4 Year WAL
Slide 7: Solid Q1 2025 Financial Results
Notes: Data as of 3/31/25 Solid Q1 2025 Financial Results Adjusted EBITDAre ($mm) (1) CAGR: 19% ABR ($mm) (1) AFFO per share ($mm) (1) FFO per share ($mm) (1) CAGR: 26% CAGR: 65% CAGR: 55%
Slide 8: Q1 25 Acquisition Summary
Delivered on stated ~$50mm of acquisitions at above average yields Q1 25 Acquisition Summary Statistics(1) 17 Properties $49M Total Investment Amount 162k Square Feet 13 Number of States 9 Number Of Industries 29% IG Tenants 12 years Remaining Lease Term 7.9% Avg. Cap Rate Notes: Data as of 3/31/25
Slide 9: Updated 2025 Guidance
Updated 2025 Guidance Previous Current Δ AFFO per share $1.20 – $1.26 $1.20 – $1.26 –% Investment activity ($mm) $175 – $200 $125 – $145 -28%(2) Disposition activity ($mm) $5 – $20 $20 – $40 140%(2) Non-reimbursed property / operating expenses ($mm) $2.0 – $2.6 $2.0 – $2.6 –% Bad Debt expense (% of
Slide 10: A Differentiated Strategy Focused on Properties with Frontage
Our Properties are strategically-located and mission-critical providing tenants with premium visibility, customer convenience and brand-building opportunities Convenience and Access Attracts tenants in the essential and experiential retail segments that demand high-profile physical locations that fa
Slide 11: FrontView's Real Estate: Compelling Risk and Return Characteristics
FrontView’s Real Estate: Compelling Risk and Return Characteristics Attractive Financial Characteristics Strong renewal probability Relatively low releasing capex Strong land values Premium rent per square foot Prime Real Estate Locations Prime street frontage locations Superior visibility
Slide 12: High-Quality, Geographically Diversified Portfolio
High-Quality, Geographically Diversified Portfolio Top 10 States (% of ABR) (1) Notes: 1. Data as of 3/31/2025 2. Top 30 U.S. MSAs by population, excluding California, per United States Census Bureau Geographic Overview (Property Count) (1) 323 Properties 37 States 117 MSAs and μSAs 25 of the Top 30
Slide 13: Portfolio Leased to a Diversified Group of Tenants and Target Industries
Portfolio Leased to a Diversified Group of Tenants and Target Industries Industry Exposure (by % of ABR) (1) Top 40 Tenant Brands (by % of ABR) (1) Notes: Data as of 3/31/2025 At least one investment grade rating from Moody’s, S&P, or Fitch From TTW # Tenant Brands % of ABR Investment Grade Rated Cr
Slide 14: Well-Laddered Lease Maturity Schedule
FVR Lease Maturity Schedule (% of Rental Revenue) (2) Well-Laddered Lease Maturity Schedule FrontView maintains a weighted average remaining lease term of ~7.4 years (1) Left Border Right Border Bottom Border Top Border Notes: Weighted by annualized base rent and does not include lease extensions As
Slide 15: Capital Structure Provides Flexibility for Growth
Capital Structure Provides Flexibility for Growth Strong pro forma balance sheet with no near-term maturities supports FrontView’s execution of its growth strategy Capital Structure Debt Outstanding and Net Debt Metrics Notes: Equity value as of 3/31/2025 Assumes exercise of all extension options; s
Slide 16: Acquisition Case Study and Underwriting Criteria
Tenant Competitive Dynamics Competitive landscape and positioning Void analysis & proximity to nearest operating unit Anchor / trade area dynamics Land and Building Characteristics Parcel size, location, and positioning Building size, age, and drive-thru capability Flexibility to serve multiple tena
Slide 17: Robust Sourcing Capabilities & Rigorous Selection Process
Robust Sourcing Capabilities & Rigorous Selection Process Sourcing: Multiple Channels of Opportunity FrontView has cultivated strong relationships with national and local brokerages across the country Brokers recognize FrontView as a reliable counterparty for time-sensitive, motivated sellers Vast N
Slide 18: FrontView is a Dominant Institutional Buyer in the Single Tenant Marketplace
1031 Exchange and Private Buyers Fragmented marketplace with unsophisticated buyers Institutional NNN Buyers “Lump-sum” capital deployment – large portfolios, riskier credit tenant sale/leasebacks, big box retailers “in the back” 6% 5% 7% 8% 4% Real Estate Type and Characteristics Big Boxes / Large
Slide 19: Robust asset management capabilities
Robust asset management capabilities supported by years of iteration and experience COMPREHENSIVE ASSET MANAGEMENT TOOLKIT Real estate expertise and real-time portfolio monitoring support FrontView’s ability to promptly determine realistic, tailored asset management solutions when needed. Our asset
Slide 20: Fully Integrated Scalable Platform & Experienced Management Team
Fully Integrated Scalable Platform & Experienced Management Team FrontView REIT has a fully integrated, internally managed real estate platform with extensive experience acquiring, developing / re-developing, managing, leasing, and disposing of assets. The REIT’s team encompasses all major areas of
Slide 21: Experienced Board of Directors Committed to Corporate Governance Best Practices
Experienced Board of Directors Committed to Corporate Governance Best Practices Key Governance Highlights Board of Directors (Independent) Board of Directors (Insiders) Prior Experience Prior Experience Elizabeth Frank CEO, RealD Former Independent Director, Spirit Realty Capital Noelle Leveaux CEO,
Slide 22: Definitions and Unaudited Non-GAAP Reconciliations
Definitions and Unaudited Non-GAAP Reconciliations Adjusted Secured Overnight Financing Rate (SOFR): We define Adjusted SOFR as the current one month term SOFR plus an adjustment of 0.10% per the terms of our credit facilities. Annualized Base Rent (ABR): We define ABR as the annualized contractual
Slide 23: Definitions and Unaudited Non-GAAP Reconciliations (Continued)
Definitions and Unaudited Non-GAAP Reconciliations (Continued) EBITDA, EBITDAre, and Other Non-GAAP Operating Metrics (unaudited, in thousands)
Slide 24: Notes: Non-GAAP Reconciliations
Notes: Non-GAAP Reconciliations