Postal Realty Trust, Inc.

Postal Realty Trust, Inc. is a U.S.-based internally managed REIT that owns and manages properties leased primarily to the United States Postal Service (USPS). Its portfolio includes last-mile post offices, retail postal locations, and industrial facilities held through an UPREIT structure with properties owned directly or through subsidiaries.

60,9 %

14,8 %

+25,5 %

— Postal Realty Trust, Inc.
%
Owned postal real estate85% Properties acquired and held for rental income, primarily leased to the USPS.
Property management services5% Management of postal properties owned by third parties through the TRS.
Financing lease income5% Income recognized from properties accounted for as financing leases.
Advisory and other services5% Consulting and other fee-based services related to postal real estate.

The company’s core customer is the USPS, which leases the vast majority of its owned properties and drives nearly all...

  • United States Postal Serviceprimary

    Leases postal properties for retail post offices, last-mile facilities, and industrial uses; buys location access and network coverage.

  • Postal property ownerssecondary

    Use property management and advisory services for postal real estate assets.

  • CEO and affiliated property ownerssecondary

    Owns properties managed by the company through its TRS and may sell assets into the platform.

The portfolio is spread across 49 states and one U.S. territory, giving the company broad national exposure rather than...

  • •Properties are located in 49 states and one U.S. territory
  • •Pennsylvania represented about 10.4% of 2025 rental income
  • •National footprint supports USPS network coverage across markets
  • •Geographic spread reduces reliance on any single local economy
  • •Operations are U.S.-centric with no disclosed foreign exposure

The company’s strategy is to acquire, consolidate, and manage postal properties that fit the USPS network, using scale...

01
Acquire USPS-leased postal propertiesshort-term

Adds scale to a specialized portfolio and deepens exposure to postal real estate.

02
Consolidate the postal logistics networkmedium-term

A larger platform can capture fragmented assets and strengthen tenant relationships.

03
Recycle capital through asset salesmedium-term

Helps redeploy capital into higher-conviction properties and manage portfolio quality.

04
Grow TRS-based servicesmedium-term

Adds fee income and expands the platform beyond owned assets.

The business is highly concentrated in the USPS, so tenant credit stress, reduced leasing demand, or network changes at...

critical

USPS tenant concentration

Most properties are leased primarily to one tenant, so USPS financial stress or network changes can reduce rent demand.

Scope
Owned portfolio and rental income
Materiality
high
critical

USPS insolvency or lease default

A default could sharply reduce operating cash flow and impair the ability to service debt or pay distributions.

Scope
Cash flow and distributions
Materiality
high
high

Lease purchase options

If USPS exercises purchase rights, the company loses future rent and may not redeploy proceeds at similar returns.

Scope
Property-level revenue
Materiality
high
medium

Regulatory and REIT compliance

REIT, tax, environmental, ADA, zoning, and government-contractor rules can increase costs and constrain actions.

Scope
Operations and capital allocation
Materiality
medium
medium

Cybersecurity and data protection

The company and its service providers handle tenant and vendor data and rely on computer systems for operations.

Scope
Operations and reputation
Materiality
medium
Purchase-price allocation on real estate acquisitions
Changes reported asset values and future expense recognition
Impairment of long-lived assets
Affects earnings and asset carrying values
Lease revenue and tenant reimbursements
Affects rental income and comparability across periods
Financing lease accounting
Affects revenue mix and balance sheet presentation
REIT tax accounting and distributions
Affects cash available for distribution and tax disclosures

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: 29/04/2026