Postal Realty acquires 72 USPS-leased properties from CEO-related entities for $27.75M

Postal Realty Trust, Inc.

Acquired 72 properties leased to USPS for $27.75M, paid $25.75M cash + $2M OP units (85,300 units at $23.4465 VWAP).
CEO Spodek received ~$11.88M cash and all OP units; special committee of independent directors approved deal.
Portfolio: 148,374 sq ft, 100% occupied, weighted avg rent $14.71/sq ft, all leased to USPS.
After deal, company manages 250 properties not owned (177 under ROFO agreement).

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