Postal Realty Trust reports 2024 acquisitions of $91M, 99.6% occupancy, new leases with 3% annual escalations

Postal Realty Trust, Inc.

Acquired 197 properties in 2024 for ~$91M (excl. closing costs) at a weighted avg cap rate of 7.6%.
Q4 2024: acquired 63 properties for $30.7M at 7.5% cap rate; owned portfolio 99.6% occupied with 1,703 properties across 49 states.
Received 88 new leases covering 85% of 2023 expired rent and 118 leases covering 95% of 2024 expired rent; 9% of leases ten-year, 27% have 3% annual escalations.
Drew $10M on term loan, fixed rate at 5.55% via swap; 95% of debt fixed; $136M undrawn on revolver as of Dec 31, 2024.
Issued 185,445 shares via ATM at avg $14.57; fully diluted shares 29,924,517 as of Dec 31, 2024.

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