Postal Realty Trust (PSTL) to Acquire $15.5 Million Portfolio
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Postal Realty Trust, Inc. (NYSE: PSTL) (the â€œCompanyâ€), an internally managed real estate investment trust that owns properties leased to the United States Postal Service (â€œUSPSâ€), announced it has entered into a definitive agreement with an unrelated third party to acquire a portfolio (â€œPortfolioâ€) of 22 properties leased to the US Postal Service for approximately $15.5 million.
The Portfolio is comprised of approximately 91,900 net leasable interior square feet and upon acquisition will generate a weighted average rental rate of $15.60 per square foot. As part of the consideration for the Portfolio, the Company expects to issue approximately $8.2 million of OP uni ...