Real estate investment trust (REIT) FrontView Inc. announced plans Tuesday for a $251 million initial public offering (IPO). Represented by Fried Frank Harris Shriver & Jacobson LLP, FrontView aims to offer 13.2 million shares priced between $17 and $21, raising $250.8 million at the midpoint. If successful, the IPO would value the company at approximately $508 million.
The IPO, expected to price the week of Sept. 30, comes amid a surge of new listings and could make FrontView one of the latest REITs to go public this year.
FrontView $251M IPO : Property Portfolio and Business Focus
FrontView owns 278 outparcel properties across 31 states, with an impressive 98.9% occupancy rate. Its tenants include well-known retailers, restaurants, and service providers such as Verizon Communications Inc., Oak Street Health Inc., IHOP Restaurants LLC, CVS Pharmacy Inc., and Walgreens. The company specializes in leasing highly visible properties located on high-traffic roads, which drive demand for its tenants’ core business operations.
