Postal Realty Trust, Inc. filed a Form 8-K on September 9, 2026, disclosing that it closed on the acquisition of a 72-property portfolio leased to the United States Postal Service for approximately $27.75 million, effective September 4, 2026.

Key Highlights

  • Purchase price: Approximately $27.75 million, excluding closing costs and adjustments, paid as $25.75 million in cash and $2.0 million in Operating Partnership Units.
  • Related-party transaction: The portfolio was acquired from entities partially owned directly or indirectly by CEO and Director Andrew Spodek, who beneficially received approximately $11.88 million of the cash consideration and all of the OP Unit Consideration.
  • OP Units issued: 85,300 OP Units of Postal Realty LP were issued based on a 10-trading day volume-weighted average price of $23.4465 per share of Class A common stock immediately prior to the effective date.
  • Portfolio occupancy: The portfolio is 100% occupied and comprises approximately 148,374 net leasable interior square feet, of which 144,731 net leasable interior square feet are leased to the USPS.
  • Weighted average rental rate: $14.71 per leasable square foot based on rents in place as of September 4, 2026.
  • Special Committee approval: The acquisition was approved by a special committee of four independent and disinterested directors; Mr. Spodek did not participate in the deliberations or approval.

Postal Realty Trust Closes Related-Party Portfolio Acquisition, Special Committee Oversight Detailed

According to the filing, Postal Realty Trust (NYSE:PSTL) completed the acquisition of a 72-property portfolio on September 4, 2026. The portfolio was purchased from certain entities partially owned either directly or indirectly by Andrew Spodek, the company's Chief Executive Officer and Director, collectively referred to in the filing as the "Related Parties." The company disclosed that the total purchase price was approximately $27.75 million, excluding closing costs and adjustments.

The filing states that the purchase price was satisfied through two components: $25.75 million in cash and $2.0 million in Operating Partnership Units of Postal Realty LP, a Delaware limited partnership of which the company is the sole general partner. Mr. Spodek, the filing notes, beneficially owned 50% of the portfolio and, as a result, beneficially received approximately $11.88 million of the cash consideration and all of the OP Unit Consideration. The 85,300 OP Units issued were priced based on a 10-trading day volume-weighted average price of $23.4465 per share of the company's Class A common stock immediately prior to the effective date.

The filing further discloses that prior to the acquisition, the portfolio was managed but not owned by the company. The portfolio was not subject to the Right of First Offer Agreement previously entered into with certain family members of and entities related to Mr. Spodek. After the acquisition, the company reported it will continue to provide third-party property management services for 250 properties not owned by the company, 177 of which are subject to the ROFO Agreement. The special committee, consisting solely of the company's four independent and disinterested directors, determined that the acquisition "was in the best interests of the Company and its stockholders," according to the filing.

What Was Disclosed

Postal Realty Trust disclosed the September 4, 2026 closing of a 72-property, 100%-occupied USPS-leased portfolio acquisition from related parties for approximately $27.75 million, approved by a special committee of independent directors.