Postal Realty Trust Exercises $50 Million of Accordion Feature on Senior Revolving Credit Facility

Postal Realty Trust, Inc. (NYSE:PSTL) (the “Company”), an internally managed real estate investment trust that owns properties leased to the United States Postal Service (“USPS”), today announced it has exercised a portion of the accordion on its senior revolving credit facility. The accordion increases the available borrowing capacity under the credit facility to $150 million from $100 million. The floating rate facility carries an interest rate of either a base rate plus a range of 70 to 140 basis points or LIBOR plus a range of 170 to 240 basis points, each depending on a consolidated leverage ratio. The Credit Agreement allows for an additional $50 million accordion subject to certain conditions.

Andrew Spodek, Chief Executive Officer of Postal Realty Trust stated, “We are pleased to have the additional capacity of our credit facility not only monetarily but also by adding additional participants. The increased capacity will allow us to continue to execute on our pipeline, which remains full and active. We had a successful 2019 executing on our growth plan and we look forward to a successful 2020 as we work to create value for our shareholders.”

People’s United Bank led the bank group which also included BMO Capital Markets Corp. as syndication agent, and Bryn Mawr Trust, Stifel Nicolaus & Company and TriState Capital as participants.

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.

Contacts

Investor Relations and Media Relations
Email: Investorrelations@postalrealtytrust.com
Phone: 516-232-8900