Sept 24 (Reuters) - FrontView REIT, which invests in

properties in prominent locations facing high-traffic roads,

aims to raise as much as $277.2 million in its initial public

offering in the United States, the real estate investment trust

said on Tuesday.

The Dallas, Texas-based company - which had a portfolio of

278 properties across the United States with a 98.9% occupancy

rate as of June end - is offering 13.2 million shares in the

$17-$21 range apiece, potentially valuing it up to $561.4

million.

FrontView's IPO comes on the heels of cold storage giant

Lineage's $4.44 billion listing. Not only was it the

year's biggest stock market flotation and the largest U.S. REIT

IPO ever, but it was also seen as a bellwether for IPOs in the

United States.

Additionally, valuations of REITs are poised to be one of

the major beneficiaries of the Federal Reserve beginning its

long-awaited monetary policy easing cycle.

Proceeds from the IPO will be mainly used to pay down

debt for FrontView, which counts wireless carrier Verizon

, pharmacy chain CVS, automotive dealer Adams Auto

Group, Wall Street giant Bank of America ( BAC ) and fast-food

restaurant chain Wendy's among its major clients.

Founded in 2016 by Stephen Preston, the company reported

a 34% year-on-year jump in rental revenue to $29.9 million in

the six months ended June 30.

Its funds from operations, a key performance measure for

REITs, rose to $7.6 million in the first half of 2024, compared

to $7.3 million a year earlier.

FrontView REIT 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.