From Postal Realty Trust:
Postal Realty Trust, Inc. (NYSE: PSTL) is the first-of-its-kind and only publicly traded real estate investment trust (REIT) focused on properties leased to the USPS.
From your hometown post office to industrial mail processing facilities, postal properties are a vital component of America’s infrastructure. For more than 30 years, our founders have been proud owners of this important slice of Americana. We have the scale and expertise to deliver reliable growth to our investors and be a dependable partner and resource to our fellow postal property owners.
Since the early 1980s, our founders have been buying and managing space leased to the USPS. Our CEO, Andrew Spodek, grew up in the business, accompanying his father on visits to his portfolio of postal properties. Eventually, he began managing a large portfolio of postal properties himself. These assets are the foundation on which Postal Realty Trust was built when the company went public in 2019.
Meet The Team
To see who is on the leadership team of Postal Realty Trust click here
PEN 5/5/23 – If you look at the Board of Directors most postal employees, and retirees, will recognize one prominent name Patrick R. Donahoe. Mr. Donahoe serves as the Chair of the Board, Audit Committee for Postal Realty Trust.
PRT: Patrick R. Donahoe was named the 73rd Postmaster General of the United States in October 2010, serving until his retirement in 2015. Mr. Donahoe was a 39-year veteran of the USPS, starting as a postal clerk in Pittsburgh in 1975. Prior to his appointment as Postmaster General, Mr. Donahoe served as the 19th Deputy Postmaster General. Mr. Donahoe has a degree in economics from the University of Pittsburgh and an MBA from the Massachusetts Institute of Technology. Mr. Donahoe is also a Director of SG360, an industry-leading print and direct marketing solutions provider.
From Wikipedia
Patrick R. Donahoe was the 73rd United States Postmaster General, having been appointed to the post on October 25, 2010. A 35-year veteran of the Postal Service, he reported to the Postal Service Board of Governors.
Donahoe is a 1977 graduate of the University of Pittsburgh where he majored in economics. He also graduated from the MIT Sloan School of Management, where he was a Sloan Fellow.[2] Before being Postmaster, Donahoe served as the 19th deputy postmaster general.
He entered the United States Postal Service as a clerk in Pittsburgh, Pennsylvania on the advice of his uncle Bob Burke, a mail carrier, who encouraged young Patrick to take the postal service exam.[3][4][5][6]
His predecessor, Postmaster General John E. Potter testified before the Senate[7] that if the Postal Service is not able to readjust their payment toward the pre-funding of retiree health benefits, as mandated by the Postal Accountability and Enhancement Act of 2006,[8] the USPS would be forced to consider cutting delivery to five days per week during the summer months of June, July & August. Donahoe echoed his predecessor’s views on five-day delivery when he assumed office in 2011.
On February 6, 2013, Donahoe announced that the Postal Service would implement five-day mail delivery beginning August 5, a move he claimed would save $2 billion annually. Later the same day, the national board of the postal union, the National Rural Letter Carriers’ Association, voted unanimously to call for his dismissal.[9] July 16, the House passed the Financial Services and General Government Appropriations bill, which included language protecting six?day mail delivery, thereby blocking Donahoe’s plan.
Donahoe retired on February 1, 2015[10] and Megan Brennan, the first female Postmaster General, was appointed as his successor the following February.[11][12][13]
Mr Donahoe is married and has two sons.[14][15] After his retirement from the Postal Service, Donahoe now serves on the board of SG360°, a marketing firm.[16] Donahoe also serves as Board Chairman for Postal Realty Trust, a NYSE listed company which is the largest owner of properties leased to the US Postal Service.
Postal Realty Trust, Inc. Reports First Quarter 2023 Results
– Acquired 39 USPS Properties for $17.2 Million During the First Quarter –
– Executed Non-Binding LOI with the USPS for the Renewal of Leases Expired in 2022 –
– Collected 100% of Contractual Rents –
Read financials Here
