The Firm represented PS Business Parks, Inc. in connection with its cash tender offers for all outstanding shares of three series of NYSE-listed preferred stock with an aggregate liquidation preference of $755 million. The offers expired on December 20, 2022 and settlement occurred on December 23, 2022.
The Firm represented affiliates of Blackstone Real Estate in their acquisition of PS Business Parks for $7.6 billion in July 2022.
PS Business Parks is a REIT that owns, operates, acquires and develops commercial properties, primarily multi-tenant industrial, industrial-flex and low-rise suburban office space.
The Simpson Thacher team included Brian Stadler, Matt Rogers and Emma Snover (M&A); Jon Ozner and Matt Petrone (Capital Markets); and Nancy Mehlman and Jenna Al-Malawi (Tax).