FrontView REIT seeks to raise up to $277 million in US IPO

(Reuters) – FrontView REIT is aiming to raise as much as $277.2 million in its initial public offering in the United States, it said on Tuesday.

The Dallas, Texas-based firm is offering 13.2 million shares at a price range of $17-$21 each.

Valuations of real estate investment trust companies are poised to be one of the major beneficiaries of the Federal Reserve beginning its long-awaited monetary policy easing cycle.

FrontView REIT, which invests in properties with frontage on high-traffic roads, will list on the New York Stock Exchange under the symbol “FVR”.

Morgan Stanley, J.P. Morgan, Wells Fargo Securities, and BofA Securities are the lead underwriters for the offering.