GLENDALE, Calif.--(BUSINESS WIRE)--
Public Storage (NYSE:PSA) announced today that it is calling for
redemption all outstanding depositary shares representing interests in
its 7.25% Cumulative Preferred Shares, Series I (NYSE:PSAPrI) on June
20, 2011 at $25 per depositary 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 all holders of the
depositary shares is $167,500,000.
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 March 31, 2011, the Company had interests in
2,052 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 March 31,
2011.
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