CEDARHURST, N.Y.--(BUSINESS WIRE)--Postal Realty Trust, Inc. (NYSE:PSTL), an internally managed real estate investment trust that owns properties leased to the United States Postal Service, today announced it has closed on the acquisition of 21 of the 22 properties previously announced on December 4, 2019. The remaining property is scheduled to close during the third quarter of 2020.

The entire Portfolio is comprised of approximately 91,900 net leasable interior square feet and generates a weighted average rental rate of $15.60 per net leasable interior square foot. The aggregate purchase price of the 21 properties was $13.8 million. The purchase was funded with the issuance of $8.2 million of OP units valued at $17.00 per unit and the remainder in cash.

As of January 13, 2020, the Company owns 487 properties in 45 states comprising 1.5 million net leasable interior square feet generating a weighted average rent of $9.71 per square foot.

About Postal Realty Trust, Inc.

Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns properties leased to the USPS. The Company believes it is one of the largest owners and managers of properties leased to the USPS.