PS Business Parks, Inc. Quarterly report pursuant to Section 13 or 15(d)

Real estate facilities (Tables)

3 Months Ended

Mar. 31, 2022

Activity related to our real estate facilities for the three months ended March 31, 2022 was as follows (in thousands):


	Land		Buildings and Improvements		Accumulated Depreciation		Total
Balances at December 31, 2021	$	867,345	$	2,239,137	$	(1,178,397)	$	1,928,085

Capital expenditures	—		7,868		—		7,868
Disposals (1)	—		(2,894)		2,894		—
Depreciation and amortization expense	—		—		(22,308)		(22,308)
Transfer to properties held for development	(2,131)		—		—		(2,131)
Transfer to properties held for sale	—		(7)		—		(7)
Balances at March 31, 2022	$	865,214	$	2,244,104	$	(1,197,811)	$	1,911,507

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(1)Disposals primarily represent the book value of tenant improvements that have been removed upon the customer vacating their space.