We will pay cumulative distributions on the Preferred Stock, from, and including, the date of original issuance, at the rate of 5.70% of the liquidation preference per year ($1.425 per year per Depositary Share).
We will pay distributions on the Preferred Stock quarterly, beginning on June 30, 2013 (with the payment on that date being based pro rata on the number of days from the original issuance of the Preferred Stock).
We are not allowed to redeem the Preferred Stock before March 14, 2018, except in order to preserve our status as a real estate investment trust.
On and after March 14, 2018, we may, at our option, redeem the Preferred Stock by paying you $25.00 per Depositary Share, plus any accrued and unpaid distributions.
The Preferred Stock has no stated maturity and is not subject to any sinking fund or mandatory redemption and is not convertible into any other securities.
Full Prospectus PDF », Secondary Prospectus PDF », PSB Page »
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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.PRP, PSB.PRR, PSB.PRS, PSB.PRT, PSB.PRU, PSB.PRV, PSB.PRW, PSBXP, PSBYP, PSBZP Open the PSB Information Page » |
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