GLENDALE, Calif.--(BUSINESS WIRE)--
Public Storage (NYSE:PSA) announced today that it is calling for
redemption all outstanding depositary shares representing interests in
its 7.500% Cumulative Preferred Shares, Series V (NYSE:PSAPrV) on May
18, 2010 at $25 per share plus accrued dividends from April 1, 2010
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 $155,000,000.
Company Information
Public Storage, a member of the S&P 500 and The Forbes Global 2000, is a
fully integrated, self-administered and self-managed real estate
investment trust that primarily acquires, develops, owns and operates
self-storage facilities. The Company's headquarters are located in
Glendale, California. At December 31, 2009, the Company had interests in
2,010 self-storage facilities located in 38 states with approximately
127 million net rentable square feet in the United States and 188
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 (NYSE:PSB) which owned and operated approximately 19.8
million rentable square feet of commercial space, primarily flex,
multi-tenant office and industrial space at March 16, 2010.
Additional information about Public Storage is available on the
Internet. The Company's web site is www.publicstorage.com.
Source: Public Storage
Contact: Public Storage
Clemente Teng
(818) 244-8080