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Hold (2.00 out of 4)
100th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Monday, March 27, 11:52 AM
Slide #204. PS Business Parks, Inc. — Preferred Stock Offering
| Company: |
PS Business Parks, Inc. (PSB) |
| Date announced: |
11/30/2017 |
| Shares Offered: |
8,000,000 |
| Date of Pricing: |
11/30/2017 |
| Price Per Share: |
$25.00 |
| Preferred Stock Offering Details: |
PS Business Parks, Inc. (NYSE:PSB) announced today that it has priced a public offering of 8,000,000 depositary shares, each representing 1/1,000th of a share of the Company's 5.20% Cumulative Preferred Stock, Series Y at $25.00 per share. The offering is expected to result in gross proceeds of $200 million and is expected to close on or about December 7, 2017, subject to the satisfaction of customary closing conditions. |
PS Business Parks is a self-advised and self-managed real estate investment trust that owns, operates, acquires and develops commercial properties, primarily multi-tenant industrial, flex and office space. Substantially all of Co.'s assets are held, and its business is conducted, through PS Business Parks, L.P., a California limited partnership. Co. owns and operates commercial space, comprising business parks and buildings located in California, Texas, Virginia, Florida, Maryland and Washington. Co. owns flex space, representing industrial buildings that are configured with a combination of warehouse and office space and can be designed to fit a variety of use types. Preferreds: PSB.PRS, PSB.PRP, PSB.PRR, PSB.PRT, PSB.PRU, PSB.PRV, PSB.PRW, PSB.PRX, PSB.PRY, PSB.PRZ
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