PS Business Parks, Inc. (NYSE:PSB) announced today that it is calling for redemption on February 13, 2012 all outstanding depositary shares representing interests in its 7.375% Cumulative Preferred Stock, Series O (NYSE:PSBPrO) at $25 per share plus accrued dividends from January 1, 2012 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 $84,600,000.
PS Business Parks, Inc., a member of the S&P SmallCap 600, is a
self-advised and self-managed equity 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 December 31, 2011, the Company
wholly owned 27.2 million rentable square feet with approximately 4,400
customers located in eight states, concentrated in California (11.1
million sq. ft.), Virginia (4.2 million sq. ft.), Florida (3.7 million
sq. ft.), Texas (3.3 million sq. ft.), Maryland (2.4 million sq. ft.),
Oregon (1.3 million sq. ft.), Arizona (0.7 million sq. ft.) and
Washington (0.5 million sq. ft.).
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV