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Stock impact report

FrontView REIT Secures Long-Term Avis Lease at Former TriColor Site, Unlocking Value Through Real Estate Underwriting and Asset Management Execution

FrontView REIT, Inc. (FVR) 
Company Research Source: Business Wire
DALLAS--(BUSINESS WIRE)--FrontView REIT, Inc. (NYSE: FVR) (“FrontView”, “we”, or the “Company”) today announced the successful re-leasing of its former TriColor property in Marietta, Georgia to Avis Budget Group.FrontView executed a new 10-year absolute net lease with Avis at the former TriColor site with an initial annual base rent of $480,000 and 2.1% average annual rent escalators. Based on comparable long-term leases in the marketplace with similarly rated credits, we estimate the property’s value at approximately $8.8 million, implying a mid 5%’s capitalization rate. Relative to FrontView’s original $7.1 million basis, this reflects an approximate 24% increase in asset value and a cash capitalization rate of 6.8% and an economic yield of 7.4%.“Re-tenanting this property quickly to Avis underscores the quality of our real estate and our top-tier asset-management process and capabilities,” said Stephen Preston, Chairman and CEO of FrontView REIT. “While the TriColor insolvency Show less Read more
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