PS Business Parks, Inc. (NYSE:PSB) announced today that it is calling
for redemption on October 15, 2015 all outstanding depositary shares
representing interests in its 6.875% Cumulative Preferred Stock,
Series R (NYSE:PSBPrR) at $25 per share plus accrued dividends from
October 1, 2015 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 $75.0 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 8, 2015, the Company wholly owned
28.0 million rentable square feet with approximately 4,850 customers
concentrated primarily in six states.
Additional information about PS Business Parks, Inc. is available on the
Internet. The Company’s website is psbusinessparks.com.
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