Acquisitions
Investment Criteria: PS Business Parks, Inc. (NYSE: PSB) is a self-advised real estate investment trust (REIT) that acquires, repositions, develops, redevelops, and operates multi-tenant commercial properties in select high growth markets across the U.S. PSB acquires both stabilized and “value-add” properties with strong long-term income growth potential and priced below replacement cost.
PSB prefers “value-add” opportunities that include the ability to increase value through vacancy lease-up, repositioning, operations and capital improvements. Net Income/cash flow growth with minimal reoccurring transaction capital are important considerations to all transactions. PSB will consider investment opportunities in other major markets if the portfolio is a minimum of 500,000 square feet.
Product
Type
<p>Preferred property types include multi-tenant:<br />
o Office/Warehouse<br />
o Office<br />
o Industrial<br />
The Company defines “Office/Warehouse” space as buildings that are configured with a combination of office and warehouse space and can be designed to fit a number of uses (including office, assembly, showroom, laboratory, light manufacturing and warehouse space).</p>
Investment
Range
<p>PSB will consider opportunities between $10 million and $1 Billion, however, we will also consider smaller deals if they are adjacent to or near an existing PSB asset.</p>
Investment
Terms
<p>All cash and will consider assuming existing debt.</p>
Typical
Transaction
<p>Typical PSB transactions include 30 days due diligence with a 5 day closing.</p>
Contact
Information
<p>Coby Holley | Vice President, Investments<br />
701 Western Avenue Glendale, CA 91201<br />
Tel. (818) 244-8080 x 1662<br />
Cell. (503) 939-1450<br />
cholley@psbusinessparks.com</p>
Bayshore Corporate Commons
Acquired by PSB in December 2013, Bayshore Corporate Commons (BCC) offers more than 340,000 square feet of office space in 8 buildings. BCC offers a variety of office suite options ranging from 200 to 20,000 square feet. BCC is located on the San Francisco Peninsula in San Mateo, CA. BCC is close to the US-101 and SR-92 freeways, the San Mateo Bridge, Caltrain Corridor and is within 30 minutes of San Francisco, San Jose and the East Bay.
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