Key Developments: Hudson Pacific Properties Inc (HPP.N)
21.63USD
1 Aug 2013
$-0.07 (-0.32%)
$21.70
$21.90
$21.94
$21.54
45,015
65,799
$24.14
$17.04
Latest Key Developments (Source: Significant Developments)
Hudson Pacific Properties Inc Announces Agreement To Acquire Office Portfolio In Seattle And Disposition Of City Plaza Property In Orange County
Hudson Pacific Properties, Inc. (the Company) announced it has entered into a purchase agreement to acquire a four-building, 836,419 square-foot office portfolio in Seattle, Washington. The acquisition is subject to customary closing conditions. In separate transactions, the Company also announced the acquisition of 3401 Exposition Boulevard in Santa Monica and the disposition of its City Plaza property in Orange County. The Company has agreed to purchase the Seattle office portfolio from Spear Street Capital for approximately $367.5 million (net of certain credits and before closing costs and prorations). The purchase price is expected to be paid from a combination of cash-on-hand, asset-level indebtedness and the Company`s corporate credit facility. Full Article
Hudson Pacific Properties Inc's Joint Venture Completes Acquisition Of The Pinnacle II Property In Burbank, California
Hudson Pacific Properties Inc announced that through its joint venture with M. David Paul & Associates/Worthe Real Estate Group (MDP/Worthe), it has completed the acquisition of the Pinnacle II, a 231,864-square-foot Class-A office property located in the heart of the Burbank Media District. Pinnacle II is currently 100% leased to Warner Bros. Entertainment through December 2021. Effective as of June 14, 2103, MDP/Worthe has completed the contribution of its 100% interest in the Pinnacle II building to the joint venture for a total gross purchase price of $130.0 million. Full Article
Hudson Pacific Properties Inc Declares Second Quarter 2013 Dividends
Hudson Pacific Properties Inc announced that Board of Directors has declared a quarterly dividend on its common stock of $0.125 per share for the second quarter of 2013. The dividend will be paid on July 1, 2013 to stockholders of record on June 20, 2013. Full Article
Hudson Pacific Properties Inc Announces New Lease With NFL At 10950 And 10900 Washington Buildings In Southern California
Hudson Pacific Properties Inc announced it has signed an agreement to expand and extend their lease with the NFL at the Company`s 10900 and 10950 Washington properties in Southern California. NFL Media is currently the major tenant at 10900 and 10950 Washington, where it occupies office space and two sound stages used exclusively to broadcast the NFL Network, NFL.com and NFL Mobile. Under the new lease terms, the NFL will increase its occupancy by an additional 22,221 square feet effective this July, completely backfilling space occupied by another tenant scheduled to expire this month, and extend through the middle of 2017. Located in one of West Los Angeles` premier entertainment business districts, the 10950 and 10900 Washington properties total 168,943 square feet on 5.5 acres. 10950 Washington consists of an 86,987-square-foot, three-story office building and a 71,886 square foot building containing office space, two sound stages and a café. Located immediately adjacent to 10950 Washington, the 10900 Washington property is a two-story 9,919-square-foot office building. Full Article
Hudson Pacific Properties Inc Reaffirms FY 2013 FFO Guidance
Hudson Pacific Properties Inc reaffirmed its fiscal 2013 FFO guidance in the range of $0.90 to $0.94 per diluted share (excluding specified items). According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $0.93 for fiscal 2013. Full Article
Hudson Pacific Properties Inc Declares First Quarter 2013 Dividends
Hudson Pacific Properties Inc announced that the Company's Board of Directors has declared a quarterly dividend on its common stock of $0.125 per share for the first quarter of 2013. The dividend will be paid on April 1, 2013 to stockholders of record on March 20, 2013. Full Article
Hudson Pacific Properties Inc Issues FY 2013 FFO Guidance Above Analysts' Estimates
Hudson Pacific Properties Inc announced that for fiscal 2013, it expects funds from operation (FFO) guidance in the range of $0.90 to $0.94 (excluding specified items) per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $0.86 for fiscal 2013. Full Article
Hudson Pacific Properties Inc Announces Pricing Of Public Offering Of Common Stock
Hudson Pacific Properties Inc announced the pricing of an underwritten public offering of 8,000,000 shares of common stock pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission at a public offering price of $21.50 per share. The offering is expected to close on February 12, 2013 and is subject to customary closing conditions. The underwriters have been granted a 30-day option to purchase up to an additional 1,200,000 shares at the public offering price, less the underwriting discount. The Company estimates that the net proceeds from this offering, after deducting underwriting discounts (before other transaction costs), will be approximately $165.1 million, or $189.9 million if the underwriters exercise their option to purchase additional shares in full. The Company intends to contribute the net proceeds from this offering to its operating partnership, which will subsequently use the net proceeds to fund development or redevelopment activities, fund potential acquisition opportunities, repay borrowings outstanding under its unsecured revolving credit facility and for general corporate purposes. BofA Merrill Lynch, Wells Fargo Securities, Barclays and Morgan Stanley are the joint book-running managers for the offering. KeyBanc Capital Markets and BMO Capital Markets are the lead managers for the offering. Full Article
Hudson Pacific Properties Inc Announces Public Offering Of Common Stock
Hudson Pacific Properties Inc announced that it has commenced an underwritten public offering of 7,500,000 shares of common stock pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,125,000 shares at the public offering price, less the underwriting discount. The Company intends to contribute the net proceeds from this offering to its operating partnership, which will subsequently use the net proceeds to fund development or redevelopment activities, fund potential acquisition opportunities, repay borrowings outstanding under its unsecured revolving credit facility and for general corporate purposes. Full Article
Hudson Pacific Properties Inc Announces New Lease For Full Occupancy Of 275 Brannan Street In San Francisco
Hudson Pacific Properties Inc announced it has signed a new lease for the entire 275 Brannan Street property located in San Francisco`s dynamic South of Market Area (SoMA). 275 Brannan Street is a three-story, brick-and-timber building containing nearly 55,000 square feet of open, creative office space. Full Article

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