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Postal Realty Trust Priced, NYSE: PSTL

Recently-formed REIT that manages and leases properties to the USPS.

Industry: Real Estate

Latest Trade: $15.61 0.00 (0.0%)

First Day Return: 0.0%

Return from IPO: -8.2%

Industry: Real Estate

We are an internally managed real estate corporation that owns and manages properties leased to the United States Postal Service. Upon completion of this offering and the related formation transactions, we will own and manage an initial portfolio of 271 postal properties located in 40 states comprising 871,843 net leasable interior square feet, all of which are leased to the USPS, and through our taxable REIT subsidiary, or TRS, we will provide fee-based third party property management services for an additional 401 postal properties leased to the USPS and owned by members of Mr. Spodek’s family and their partners. We believe that we will be one of the largest owners and the largest manager (measured by net leasable square footage) of properties that are leased to the USPS. We will have a right of first offer to purchase 255 of our 401 managed properties. Our chief executive officer, Andrew Spodek, currently owns interests in 199 of the 271 initial properties we will own which he will contribute to us as part of our formation transactions. Mr. Spodek controls our 190 Predecessor Properties and has a non-controlling ownership interest in nine of our Acquisition Properties. Mr. Spodek has been actively engaged in the ownership and management of postal properties for over 20 years.
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IPO News for Postal Realty Trust
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IPO Data
IPO File Date 04/02/2019
Offer Price $17.00
Price Range $19.00 - $21.00
Offer Shares (mm) 4.5
Deal Size ($mm) $77
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 05/14/2019
Offer Price $17.00
Price Range $19.00 - $21.00
Offer Shares (mm) 4.5
Deal Size ($mm) $77
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Cedarhurst, NY
Founded 2018
Employees 17
Website www.postalrealtytrust.com