Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 173,460 $ 27,074
Real estate facilities, at cost    
Land 849,942 852,073
Buildings and improvements 2,202,358 2,186,849
Gross real estate investment property 3,052,300 3,038,922
Accumulated depreciation (1,182,746) (1,141,727)
Net real estate investment property 1,869,554 1,897,195
Properties held for sale, net 0 66,914
Land and building held for development, net 112,952 76,575
Total real estate investments 1,982,506 2,040,684
Rent receivable 1,571 1,621
Deferred rent receivable 37,525 37,581
Other assets 10,995 16,262
Total assets 2,206,057 2,123,222
LIABILITIES AND EQUITY    
Accrued and other liabilities 92,047 97,151
Credit facility 0 32,000
Total liabilities 92,047 129,151
Commitments and contingencies
Equity    
Preferred stock, $0.01 par value, 50,000,000 shares authorized, 30,200 shares issued and outstanding at June 30, 2022 and December 31, 2021 755,000 755,000
Common stock, $0.01 par value, 100,000,000 shares authorized, 27,631,499 and 27,589,807 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively. 276 275
Paid-in capital 755,873 752,444
Accumulated earnings 318,782 226,737
Total PS Business Parks, Inc.’s stockholders’ equity 1,829,931 1,734,456
Noncontrolling interests 284,079 259,615
Total equity 2,114,010 1,994,071
Total liabilities and equity $ 2,206,057 $ 2,123,222