GLENDALE, Calif.--(BUSINESS WIRE)--
Public Storage (NYSE:PSA) announced that it is calling for a partial
redemption of 14,000,000 of its outstanding 20,700,000 depositary shares
(or approximately 67.6%) representing interests in its 7.25% Cumulative
Preferred Shares, Series I (NYSE:PSAPrI) on May 9, 2011 at $25 per share
plus accrued dividends from April 1, 2011 through the date of
redemption. The aggregate redemption amount, before payment of accrued
dividends, to be paid to the holders of the depositary shares being
redeemed is $350,000,000.
Company Information
Public Storage, a member of the S&P 500, The Forbes Global 2000 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 Company’s headquarters are located
in Glendale, California. At December 31, 2010, the Company had interests
in 2,048 self-storage facilities located in 38 states with approximately
130 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 21.8 million rentable square feet of commercial space,
primarily flex, multi-tenant office and industrial space, at December
31, 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, Ext. 1141