Public Storage Announces Redemption of All Outstanding Depositary Shares Representing Interests in its 6.250% Cumulative Preferred Shares, Series Z, its 6.125% Cumulative Preferred Shares, Series A and its 6.18% Cumulative Preferred Shares, Series D
GLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (PSA) announced today that it is calling for redemption all outstanding depositary shares representing interests in its 6.250% Cumulative Preferred Shares, Series Z (NYSE:PSAPrZ), its 6.125% Cumulative Preferred Shares, Series A (NYSE:PSAPrA) and its 6.18% Cumulative Preferred Shares, Series D (NYSE:PSAPrD) on December 27, 2012 at $25 per depositary share. The aggregate redemption amount to be paid to all holders of the depositary shares is $112,500,000 for the Series Z, $115,000,000 for the Series A and $135,000,000 for the Series D for a total of $362,500,000.
Public Storage, a member of the S&P 500 and FT Global 500, is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Companys headquarters are located in Glendale, California. At September 30, 2012, the Company had interests in 2,069 self-storage facilities located in 38 states with approximately 132 million net rentable square feet in the United States and 189 storage facilities located in seven Western European nations with approximately ten million net rentable square feet operated under the Shurgard brand. The Company also owns a 41% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28.2 million rentable square feet of commercial space, primarily flex, multi-tenant office and industrial space, at September 30, 2012.
Additional information about Public Storage is available on the Internet. The Companys web site is www.publicstorage.com.
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Source: Public StorageCopyright Business Wire 2012