Postal Realty acquires 223 USPS properties for $78M in 2023 at 7.7% cap rate

Postal Realty Trust, Inc.

FY 2023: acquired 223 properties leased to USPS for $78M (excl. closing costs) at 7.7% weighted avg cap rate.
Q4 2023: acquired 75 properties for $20.7M at 7.7% cap rate; collected 100% of contractual rents.
Portfolio 99.7% occupied with 1,509 properties; 5.9M sq ft; weighted avg rent $9.37/sq ft.
96% of debt fixed rate; $141M undrawn on credit facility; weighted avg interest rate 4.14%.
Settled 198,847 forward shares at $15.02; issued 227,256 ATM shares at $14.32 avg; 450,818 OP units at $14.01.

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