FrontView REIT Inc

11. RELATED PARTY TRANSACTIONS

Related parties consist of the General Partner and the Sponsor of the Partnership, their employees, officers, directors and parties related to them and entities under their control. In addition to disclosures elsewhere in these condensed consolidated financial statements:

(a)

During the nine months ended September 30, 2023, the Partnership incurred structuring fees and placement fees (“Issue Costs”) of $243, payable to North American Property Group (“NAPG”), $81, payable to North American Realty Services, LLLP (“NARS”) and $2, payable to NAPG Equities Inc. (“Equities”), in each case, in respect of Common Units issued to U.S. investors. NAPG is owned by one of the directors of the General Partner, and NARS is a partnership affiliated with the General Partner. A director of NARS is also a director of the General Partner.

(b)

During the nine months ended September 30, 2024 and 2023, the Partnership incurred asset management fees of $3,102 and $3,105 respectively, acquisition fees of $0 and $566 respectively, and property management fees and direct costs of $1,501 and $1,122 respectively, payable to NARS. As of September 30, 2024 and December 31, 2023, the Partnership had a payable to NARS relating to these fees of $3,558 and $2,055, respectively, which is included in “Accounts payable and accrued liabilities” on the accompanying condensed consolidated balance sheets.

(c)

The Sponsor holds 500 Common Units in the Partnership as described in Note 1. As of September 30, 2024 and December 31, 2023, the Partnership paid aggregate distributions to the Sponsor (in the same amount per Common Unit as are paid to all other investors) in the amount of $25 and $290 respectively, and to other related parties holding an aggregate of 522.49 Common Units in the amount of $26 and $303 respectively.

(d)

On July 10, 2024, the Partnership entered into the Amended and Restated Internalization Agreement with NARS and certain affiliates of NARS to internalize the external management functions currently performed by NARS for the Partnership and will be implemented contemporaneously with the closing of the IPO.