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Postal Realty Trust Substantially Completes Acquisition of 22-Property US Postal Service Portfolio
Tuesday 14 January 2020

14 January 2020 - US-based REIT Postal Realty Trust, Inc. (NYSE: PSTL) has closed on the acquisition of 21 of the 22 properties previously reported on December 4, 2019m, the firm said.

The remaining property is scheduled to close during 3Q20.

The entire Portfolio is comprised of approximately 91,900 net leasable interior square feet and generates a weighted average rental rate of USD 15.60 per net leasable interior square foot. The aggregate purchase price of the 21 properties was USD 13.8m.

PSTL said the purchase was funded with the issuance of USD 8.2m of OP units valued at USD17.00 per unit and the remainder in cash.

As of January 13, 2020, the company owns 487 properties in 45 states comprising 1.5m net leasable interior square feet generating a weighted average rent of USD 9.71 per square foot.

Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns properties leased to the USPS. The company believes it is one of the largest owners and managers of properties leased to the USPS.
Date Published: 14/01/2020
Target: 21 of the 22 properties in Postal portfolio
Country: USA
Deal Size: 13.8m (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash and Stock
Status: Closed
Buyer: Postal Realty Trust