Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.22.2.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Assets:    
Investments in real estate, net $ 5,613,947 $ 1,936,338
Assets held for sale 0 33,609
Cash and cash equivalents 112,180 27,074
Restricted cash 634 0
Tenant and other receivables 8,422 39,202
Lease-related intangible assets, net 276,748 71,793
Prepaid expenses and other assets 127,953 15,206
Due from affiliates 9 0
Total assets [1] 6,139,893 2,123,222
Liabilities:    
Debt, net 3,751,039 32,000
Accounts payable, accrued expenses and other liabilities 151,342 94,301
Lease-related intangible liabilities, net 162,623 2,779
Due to affiliates 15,837 71
Total liabilities [1] 4,080,841 129,151
Commitments and contingencies (Note 11)
Equity:    
Preferred stock, $0.01 par value, 50,000,000 shares authorized, 30,325 and 30,200 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively 563,526 755,000
Common stock, $0.01 par value, 200,000,000 shares authorized, 100 shares issued and outstanding as of September 30, 2022; 100,000,000 shares authorized, 27,589,807 shares issued and outstanding as of December 31, 2021 0 275
Paid-in capital 2,847,170 752,444
Accumulated earnings (deficit) (1,365,111) 226,737
Total PS Business Parks, Inc.'s stockholders' equity 2,045,585 1,734,456
Noncontrolling interest 13,467 259,615
Total equity 2,059,052 1,994,071
Total liabilities and equity $ 6,139,893 $ 2,123,222
[1] ¹ See Note 2 — Summary of Significant Accounting Policies for details related to variable interest entities (“VIEs”).