FrontView REIT reports Q2 net investment target on track; Amazon lease and Dollar Tree portfolio upgrade

FrontView REIT, Inc.

Acquired four properties for $11.9M at 7.5% cash yield; sold 10 for $22.8M; Q2 net target $25M, FY $100M.
Re-tenanted former Walgreens in Durham, NC to Amazon (AA/A1) at same rent with 2% escalators; rent commenced mid-May.
Reduced Dollar Tree concentration from 3.1% to 1.8% of ABR; sold 6 low-quality Dollar Trees at 7.7% cap rate.
Added Tim McHugh (Co-President & CFO of Welltower) to Board; now six independent directors.
Top 100 MSA concentration increased to 77.5%; top 3 tenant exposure reduced to 7.5%.

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