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Postal Realty Trust to Acquire 113-Property US Postal Service Portfolio for USD 31m
Wednesday 09 October 2019

9 October 2019 - New York, US-based REIT Postal Realty Trust, Inc. (NYSE: PSTL), which owns and manages properties leased to the United States Postal Service (USPS), has entered into multiple agreements with affiliated sellers to acquire a 113-property portfolio of USPS properties for approximately USD 31m, the company said.
The portfolio comprises approximately 270,000 square feet and generates a weighted average rent of USD 9.75 per square foot.
As part of the consideration for the portfolio, the company expects to issue approximately USD 14m of OP units valued at USD 17per share.
The balance of the purchase price is expected to be funded with proceeds from the company's line of credit.
Postal Realty Trust said upon the completion of this transaction, it will have grown its property count by approximately 50% since an IPO in May 2019.
Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns and manages properties leased to the USPS.
Date Published: 09/10/2019
Target: 113-property portfolio of USPS properties
Country: USA
Deal Size: 31m (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash
Status: Agreed
Buyer: Postal Realty Trust, Inc