Postal Realty Trust, Inc. Completes Acquisition of 72 USPS‑Leased Properties

What Happened
Postal Realty Trust, Inc. (PSTL) filed an 8-K reporting it closed the acquisition of a 72-property portfolio leased to the United States Postal Service for approximately $27.75 million (excluding closing costs and adjustments). The purchase price was paid with $25.75 million in cash and $2.0 million in Operating Partnership units (OP Units) of Postal Realty LP. The portfolio was previously managed by the Company but not owned by it.

Key Details

• Purchase Price: ~$27.75 million (paid as $25.75M cash + $2.0M OP Unit consideration).
• Related‑party aspect: Portfolio was partially owned (50%) by entities tied to CEO and Director Andrew Spodek; he received ~ $11.88M of the cash consideration and all OP Units.
• OP Units issued: 85,300 OP Units, based on a 10‑trading‑day VWAP of $23.4465 immediately before the Effective Date.
• Portfolio stats: 72 properties, 100% occupied, ~148,374 net leasable interior sq ft (144,731 sq ft leased to USPS), weighted average rent $14.71 per leasable sq ft (rents in place as of Sept 4, 2026).
• Governance: Transaction was reviewed and approved by a Special Committee of four independent, disinterested directors; CEO Spodek did not participate in deliberations. The acquisition was independent of the Company’s prior Right of First Offer (ROFO) agreement. The Company will continue to provide third‑party management for 250 non‑owned properties (177 subject to the ROFO).

Why It Matters
This transaction increases Postal Realty’s owned footprint of USPS‑leased properties and brings a fully leased portfolio onto the balance sheet, which could add stable rental cash flow tied to USPS leases. Investors should note the related‑party nature of the deal (CEO‑related entities were sellers) and that the Special Committee of independent directors approved the terms. The deal used both cash and OP Units, so it affected the company’s cash position and added partnership units rather than issuing common stock.