Postal Realty Trust Acquired 65 Properties Leased To The USPS For ~ $29.1M In Q4; Acquired 216 Properties For $123M In 2025

Postal Realty Trust, Inc. (NYSE:PSTL) (the "Company"), an internally managed real estate investment trust that owns and manages over 2,200 postal properties leased primarily to the United States Postal Service (the "USPS"), ranging from last-mile post offices to industrial facilities, provided an update on its acquisition, re-leasing, and capital markets activity for the fourth quarter of 2025. The Company also provided an update on its portfolio, balance sheet and fully diluted shares outstanding at year-end as well as acquisitions for the full year of 2025.

For the full year 2025, the Company acquired 216 properties leased to the USPS for approximately $123 million, excluding closing costs. These properties comprise approximately 642,000 net leasable interior square feet and had a weighted average rental rate of $16.24 per leasable square foot as of December 31, 2025. These acquisitions were completed at a weighted average cash capitalization rate of approximately 7.7%.

"The acquisition volume we achieved in 2025 reflects the strength of our long-standing relationships, our differentiated sourcing strategy, and our specialized expertise in postal real estate," said Andrew Spodek, Chief Executive Officer. "Last year's acquisitions represent approximately 20% growth in our asset base1 from year-end 2024.2 Importantly, we drove this growth while maintaining a strong balance sheet." Mr. Spodek continued, "this growth builds on the results we've delivered since our IPO in 2019—expanding our asset base by approximately 1,095%.3 Over that time, we have delivered compound annual AFFO per share growth of approximately 5.5% from 2020 through 2025, based on the midpoint of guidance."

Fourth Quarter & Year-End 2025 Update

For the fourth quarter of 2025, the Company acquired 65 properties leased to the USPS for approximately $29.1 million, excluding closing costs (the "Q4 2025 Acquisitions Cost"), comprising approximately 142,000 net leasable interior square feet. These acquisitions were completed at a weighted average cash capitalization rate of approximately 7.5%.

The Company's owned portfolio was 99.8% occupied with 1,917 properties across 49 states and one territory with approximately 7.1 million net leasable interior square feet and a weighted average rental rate of $11.88 per occupied leasable square foot based on rents in place as of December 31, 2025. The weighted average rental rate consisted of $14.09 per occupied leasable square foot on last-mile and flex properties, and $4.23 on industrial properties.

At the end of 2025, 89% of the Company's debt outstanding was set to fixed rates and $39 million was outstanding on the Company's senior unsecured revolving credit facility. The weighted average interest rate of the Company's total debt outstanding was 4.38%.

Through its at-the-market offering program, the Company issued 807,184 shares of common stock at an average gross sales price of $15.63 per share generating gross proceeds of $12.6 million during the fourth quarter and 3,154,321 shares of common stock at an average gross sales price of $15.34 per share generating gross proceeds of $48.4 million during the year.

As of December 31, 2025, there were 34,104,349 fully diluted shares outstanding (including securities convertible into shares of Class A common stock such as common units and long-term incentive units in the Company's operating partnership and restricted stock units) and the weighted average fully diluted share count for the fourth quarter of 2025 was 33,620,211 shares.