CEDARHURST, N.Y.--(BUSINESS WIRE)--Postal Realty Trust, Inc. (NYSE: PSTL), an internally managed real estate investment trust that owns properties primarily leased to the United States Postal Service, today announced it closed an approximately $30.2 million property level financing on its recently acquired approximately 431,000-square foot industrial property located in Warrendale, PA.

The property-level financing, which closed on December 18, 2020, has a 10-year term and matures on January 1, 2031, and carries a fixed interest rate of 2.80%. The loan requires interest-only payments for the first five years and fixed payments of principal and interest thereafter based on a 30-year amortization schedule. The Company expects to use the net proceeds from the property-level financing to repay amounts outstanding under the Company’s senior revolving credit facility.

Andrew Spodek, Chief Executive Officer, commented, “We are excited to have completed the property-level financing on our Warrendale industrial property ahead of schedule, which frees incremental capital on our senior revolving credit facility for pending acquisitions. I would like to thank my team and our lending partner for their diligence and hard work in getting this loan in place in an efficient and timely manner. As we head into 2021, we are focused on the continued execution of our acquisition strategy and scaling our operations.”

About Postal Realty Trust, Inc.

Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns and manages over 1,100 properties primarily leased to the USPS. The Company believes it is one of the largest owners and managers of properties leased to the USPS.