FrontView REIT acquires 16 frontage properties for $50.6 million in third quarter
FVR•FrontView REIT acquired 16 frontage properties for $50.6 million at a 7.6% cash yield in the third quarter. Year-to-date, it acquired 43 properties for $142.6 million and sold 20 for $49.7 million.
1. Acquisitions and sales
FrontView REIT reported third-quarter acquisitions of 16 frontage properties for $50.6 million, targeting a 7.6% cash yield. It sold five occupied properties for $17.1 million at a 6.6% cash yield. Year-to-date, the company acquired 43 properties for $142.6 million at a 7.5% cash yield and sold 20 properties for $49.7 million.
2. Capital raised
FrontView reported $32.7 million in net proceeds from settling 1,699,165 forward-sold common shares. It also issued $20 million of Series A Convertible Preferred Stock; one investor converted $6.7 million into 392,158 common shares.
