-

PS Business Parks, Inc. Announces Redemption of All Outstanding Depositary Shares Representing Interests in its 5.20% Cumulative Preferred Stock, Series W

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) announced today that it is calling for redemption of all outstanding depositary shares representing interests in its 5.20% Cumulative Preferred Stock, Series W (NYSE:PSBPrW) on November 3, 2021, at $25 per share plus accrued dividends from October 1, 2021, through the date of redemption. The aggregate redemption amount, before payment of accrued dividends, to be paid to the holders of the depositary shares is $189.8 million.

Company Information

PS Business Parks, Inc., a S&P MidCap 400 company, is a REIT that acquires, develops, owns, and operates commercial properties, predominantly multi-tenant industrial, industrial-flex, and low-rise suburban office. Located primarily in major coastal markets, PS Business Parks’ 97 properties serve approximately 5,100 tenants in 28 million square feet. The portfolio also includes 800 residential units (inclusive of units in-process).

Additional information about PS Business Parks, Inc. is available on the Company’s website, which can be found at psbusinessparks.com.

Contacts

Jeff Hedges
(818) 244-8080, Ext. 1649

Industry:

PS Business Parks, Inc.

NYSE:PSB
Release Versions
English

Contacts

Jeff Hedges
(818) 244-8080, Ext. 1649

More News From PS Business Parks, Inc.

PS Business Parks, Inc. Stockholders Approve Acquisition by Affiliates of Blackstone Real Estate

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) (“PSB” or the “Company”) announced that, at a Special Meeting of Stockholders held earlier today, PSB stockholders voted to approve the acquisition of PSB by affiliates of Blackstone Real Estate (“Blackstone”). “I am pleased to see that our stockholders approved this transformative transaction, which will provide compelling value to our stockholders and positions the company for collective success” said Stephen W. Wilson, Pre...

PS Business Parks, Inc. Announces Anticipated Closing Date of Pending Transaction; Declares Dividends in Connection with Pending Transaction

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) (“PSB” or the “Company”) announced today that it expects to complete its previously announced transaction (the “Transaction”) with affiliates of Blackstone Real Estate (“Blackstone”) on or around July 20, 2022 following the special meeting of PSB’s common stockholders on July 15, 2022. The completion of the Transaction remains subject to approval by PSB’s common stockholders and other customary closing conditions. On July 8,...

PS Business Parks, Inc. Announces Expiration of “Go-Shop” Period Contained In Previously Announced Merger Agreement

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) (“PSB” or the “Company”) announced today the expiration of the “go-shop” period set forth in the previously announced definitive merger agreement with affiliates of Blackstone Real Estate (“Blackstone”), dated as of April 24, 2022 (the “merger agreement”). Under the terms of the merger agreement, Blackstone has agreed to acquire all the outstanding shares of the Company’s common stock for $187.50 per share in an all-cash tran...
Back to Newsroom