201. Commercial Retail REIT FrontView Raises $251 Million in IPO.
- Author
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Lipschultz, Bailey
- Subjects
GOING public (Securities) ,REVOLVING credit ,STOCKS (Finance) ,STORE location ,NET losses ,REAL estate investment trusts - Abstract
FrontView REIT Inc., a real estate investment trust based in Dallas, has raised $250.8 million in an initial public offering. The company focuses on properties located on high-traffic roads that are visible to consumers. It currently owns 278 properties across 31 US states, with the largest concentrations in Illinois and Texas. The IPO proceeds will be used for general business purposes, potential future acquisitions, and to repay outstanding borrowings. FrontView's portfolio includes locations leased to Starbucks, AT&T, and Verizon. The offering is being led by Morgan Stanley, JPMorgan Chase, Wells Fargo, and Bank of America, and the company plans to trade on the New York Stock Exchange under the symbol FVR. [Extracted from the article]
- Published
- 2024