- Postal Realty Trust ( NYSE: PSTL ) said Wednesday it acquired 320 properties for ~$123M in 2022, completed at a weighted average cap rate of ~6.8%.
- For Q4, the REIT collected 100% of its rents and acquired 54 properties for ~$20.2M.
- Postal Realty's ( PSTL ) owned portfolio was 99.7% occupied by ~1.3K properties, with weighted average rental rate of $8.74 per occupied leasable sq. ft. based on rents in place as of December 31.
- "As we look into H1 2023, transaction volume may be lighter than prior quarters as prospective sellers continue to take time to adjust to a dynamic market environment," said CEO Andrew Spodek.
- During Q4, Postal Realty ( PSTL ) exercised $40M of term loan accordion and swapped $40M of credit facilities through February 2028 by fixing the effective interest rate to 4.95%.
- At 2022-end, all of the REIT's outstanding debt was set to fixed rates at a weighted average interest rate of ~3.74%.
- The firm's $150M senior unsecured revolving credit facility remains undrawn.
- Take a look at Postal Realty's ( PSTL ) key stats compared with its peers .
For further details see:
Postal Realty Trust reports $123M acquisitions in 2022