PS Bus. Parks, Inc. Announces Redemption of All Outstanding Depositary Shares Representing Interests in its 6.875% Cumulative...
September 08 2015 - 4:05PM
Business Wire
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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PS Business Parks, Inc.Edward A. Stokx(818) 244-8080, Ext.
1649
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