Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
ASSETS    
Cash and cash equivalents $ 27,074 $ 69,083
Real estate facilities, at cost    
Land 867,345 843,765
Buildings and improvements 2,239,137 2,080,895
Gross real estate investment property 3,106,482 2,924,660
Accumulated depreciation (1,178,397) (1,101,739)
Net real estate investment property 1,928,085 1,822,921
Properties held for sale, net 33,609 75,138
Land and building held for development, net 78,990 37,922
Total real estate investments 2,040,684 1,935,981
Rent receivable 1,621 1,519
Deferred rent receivable 37,581 36,788
Other assets 16,262 14,334
Total assets 2,123,222 2,057,705
LIABILITIES AND EQUITY    
Accrued and other liabilities 97,151 82,065
Credit facility 32,000  
Total liabilities 129,151 82,065
Commitments and contingencies
PS Business Parks, Inc.'s stockholders' equity    
Preferred stock, $0.01 par value, 50,000,000 shares authorized, 30,200 and 37,790 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively 755,000 944,750
Common stock, $0.01 par value, 100,000,000 shares authorized, 27,589,807 and 27,488,547 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively 275 274
Paid-in capital 752,444 738,022
Accumulated earnings 226,737 73,631
Total PS Business Parks, Inc.'s stockholders' equity 1,734,456 1,756,677
Noncontrolling interests 259,615 218,963
Total equity 1,994,071 1,975,640
Total liabilities and equity $ 2,123,222 $ 2,057,705