M&A Deal Summary

PS Business Parks Acquires Port America

On September 1, 2021, PS Business Parks acquired real estate company Port America for 123M USD

Acquisition Highlights
  • This is PS Business Parks’ 1st transaction in the Real Estate sector.
  • This is PS Business Parks’ largest (disclosed) transaction.
  • This is PS Business Parks’ 1st transaction in the United States.
  • This is PS Business Parks’ 1st transaction in Texas.

M&A Deal Summary
Date 2021-09-01
Target Port America
Sector Real Estate
Buyer(s) PS Business Parks
Deal Type Add-on Acquisition
Deal Value 123M USD

Target

Port America

Dallas, Texas, United States
Port America consists of 15 buildings with an average customer size of 8,000 square feet and was approximately 96% occupied at closing. The park is strategically located immediately adjacent to DFW International Airport on fee simple land.

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Buyer(S) 1

Buyer

PS Business Parks

Glendale, California, United States
Category Company
Sector Real Estate
Employees155
Revenue 439M USD (2021)
DESCRIPTION

PS Business Parks is a REIT specializing in leasing commercial multi-tenant flex, office and industrial space throughout the United States with locations in California, Florida, Maryland, Texas, Virginia, Washington. PS Business Parks is based in Glendale, California.

DEAL STATS #
Overall 1 of 1
Sector (Real Estate) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
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