GLENDALE, Calif. -- (Business Wire)
PS Business Parks, Inc. (NYSE:PSB) announced today that it is calling
for redemption on January 3, 2018 of all outstanding depositary shares
representing interests in its 6.00% Cumulative Preferred Stock, Series T
(NYSE:PSBPrT) at $25 per share plus accrued dividends from January 1,
2018 through the date of redemption. The aggregate redemption amount,
before payment of accrued dividends, to be paid to all holders of the
depositary shares is $130.0 million.
Company Information
PS Business Parks, Inc., a member of the S&P SmallCap 600, is a
self-advised and self-managed real estate investment trust (“REIT”) that
acquires, develops, owns and operates commercial properties, primarily
multi-tenant flex, office and industrial space. The Company defines
“flex” space as buildings that are configured with a combination of
office and warehouse space and can be designed to fit a number of uses
(including office, assembly, showroom, laboratory, light manufacturing
and warehouse space). As of September 30, 2017, the Company wholly owned
28.0 million rentable square feet with approximately 4,950 customers
concentrated in six states and a 95.0% interest in 395 apartments.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171130006149/en/
Contacts:
PS Business Parks, Inc.
Maria R. Hawthorne
(818) 244-8080,
Ext. 1370
Source: PS Business Parks, Inc.
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