Postal Realty closes on purchase of 21 properties for $13.8M

• Postal Realty Trust (NYSE:PSTL) closes on the acquisition of 21 of the 22 properties it previously agreed to acquire.
• The remaining property is scheduled to close during Q3 2020.
• Purchase price of $13.8M for the 21 properties was funded with the issuance of $8.2M of operating partnership units valued at $17.00 per unit and the remainder in cash.
• The entire portfolio is comprised of ~91,900 net leasable interior square feet and generates weighted average rental rate of $15.60 per net leasable interior square foot.
• As of Jan. 13, 2020, Postal Realty owns 487 properties in 45 states comprising 1.5M net leasable interior square feet generating a weighted average rent of $9.71 per square foot.
• Previously: Postal Realty Trust to acquire $15.5M portfolio (Dec. 4, 2019)