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FrontView REIT Inc

For the period ended Sep 30, 2024. Filed Nov 14, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 14, 2024

FVR$19.07-0.4%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☒Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended September 30,2024

☐Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File Number 001-42301

(Exact name of registrant as specified in its charter)

Maryland93-2133671
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
3131 McKinney Avenue Suite L10Dallas, Texas75204
(Address of principal executive offices)(Zip Code)

(214)796-2445

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTradingSymbol(s)Name of each exchange on which registered
Common Stock, $0.01 par valueFVRThe New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☐No ☒

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☐
Non-accelerated filer☒Smaller reporting company☐
Emerging growth company☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒

There were 16,068,156 shares of the Registrants’ Common Stock, $0.01 par value per share, outstanding as of November 14, 2024.

TABLE OF CONTENTS

Page
Part I - FINANCIAL INFORMATION
Item 1. · Financial Statements - FrontView REIT Inc.
Cautionary Note Regarding Forward-Looking Statements1
Balance Sheets (Unaudited)2
Notes to Balance Sheets (Unaudited)
1. Organization3
2. Capitalization3
3. Summary of Significant Accounting Policies3
4. Subsequent Events4
Financial Statements - NADG NNN Property Fund LP
Condensed Consolidated Balance Sheets (Unaudited)5
Condensed Consolidated Statements of Operations (Unaudited)6
Condensed Consolidated Statements of Partners' Capital (Unaudited)7
Condensed Consolidated Statements of Cash Flows (Unaudited)9
Notes to the Condensed Consolidated Financial Statements (Unaudited)
1. Business Operations11
2. Accounting Policies for Financial Statements11
3. Real Estate Held for Investment and Lease Arrangements16
4. Intangible Assets and Liabilities18
5. Investment in an Unconsolidated Entity19
6. Debt, Net20
7. Partners' Capital22
8. Preferred Units22
9. Convertible Non-controlling Preferred Interests23
10. Supplemental Detail for Certain Components of the Condensed Consolidated Balance Sheets23
11. Related Party Transactions24
12. Contingencies24
13. Subsequent Events25
Pro Forma Condensed Consolidated Financial Statements
Unaudited Pro Forma Condensed Consolidated Financial Statements26
Unaudited Pro Forma Condensed Consolidated Balance Sheet as of September 30, 202428
Unaudited Pro Forma Condensed Consolidated Statement of Operations for the Three Months Ended September 30, 202429
Unaudited Pro Forma Condensed Consolidated Statement of Operations for the Nine Months Ended September 30, 202430
Notes to the Unaudited Pro Forma Condensed Consolidated Financial Statements31
Adjustments to the Unaudited Pro Forma Condensed Consolidated Balance Sheet31
Adjustments to the Unaudited Pro Forma Condensed Consolidated Statement of Operations32
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations34
Explanatory Note and Certain Defined Terms34
Overview35
Real Estate Portfolio Information35
Results of Operations42
Liquidity and Capital Resources45
Derivative Instruments and Hedging Activities47
Cash Flows48
Non-GAAP Measures48
Critical Accounting Policies and Estimates51
Impact of Recent Accounting Pronouncements52
Item 3.Quantitative and Qualitative Disclosures About Market Risk53
Item 4.Controls and Procedures53
Part II - OTHER INFORMATION53
Item 1.Legal Proceedings53
Item 1A.Risk Factors53
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds53
Item 3.Defaults upon Senior Securities54
Item 4.Mine Safety Disclosures54
Item 5.Other Information54
Item 6.Exhibits55
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.