Dan Phan

Dan Phan inquired about FrontView REIT's expectations for non-reimbursed property and operating expenses, cash G&A for the year, and the potential for future preferred convertible capital raises.

Answer

Pierre Revol (CFO) stated that the NOI margin is expected to increase by 100 basis points, improving quarterly cash NOI by $450,000-$500,000, following elevated Q4 2025 expenses due to vacancy-related taxes. He noted that while the preferred equity has been successful with inbound interest, the current plan is to deploy existing capital and return to more traditional funding methods, assuming stock price improvement.

Dan Phan asked for expectations regarding non-reimbursed property and operating expenses, and cash G&A for the year. He also inquired about the potential for future convertible preferred capital raises.

Answer

Pierre Revol, CFO, stated that the NOI margin, which was 96% due to elevated taxes from 2025 vacancies, is expected to increase by 100 basis points, translating to a $450k-$500k quarterly improvement. Regarding capital, Pierre Revol, CFO, noted the success and interest in preferred equity but indicated plans to return to more traditional funding as the stock price improves, given the current lower conversion premium.