Profile: Hudson Pacific Properties Inc (HPP.N)

HPP.N on New York Stock Exchange

21.63USD
1 Aug 2013
Price Change (% chg)

$-0.07 (-0.32%)
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$21.70
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Volume
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$24.14
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Hudson Pacific Properties, Inc. is a full-service, vertically integrated real estate investment trust (REIT) focused on owning, operating and acquiring high-quality office properties in select growth markets primarily in Northern and Southern California. These markets include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay. The Company operates in two segments: office properties, and media and entertainment properties. The office properties segment includes the City Plaza, Tierrasanta, First Financial, 875 Howard Street, Del Amo Office, 9300 Wilshire Boulevard, 10950 Washington, 222 Kearny, the Rincon Center joint venture and 1455 Market properties and the Technicolor Building. The media and entertainment segment includes the Sunset Gower property (including 6050 and 6060 Sunset) and the Sunset Bronson property. On November 22, 2011, it acquired 6922 Hollywood Boulevard. On December 16, 2011, it acquired 6050 Sunset and 1445 Beachwood. On July 26, 2011, it acquired 604 Arizona. On August 18, 2011, it acquired 275 Brannan. On September 9, 2011, it acquired 625 Second Street. In June 2012, the Company acquired 901 Market Street located at the crossroads of the Union Square and South of Market (SOMA) submarkets in San Francisco. In September 2012, it acquired the Olympic-Bundy Media Campus located at 1901, 1925 and 1933 South Bundy Drive and 12333 West Olympic Boulevard in Los Angeles. On November 8, 2012, the Company through its joint venture with M. David Paul & Associates/Worthe Real Estate Group acquired 393,776 square foot Pinnacle I building. In June 2013, Hudson Pacific Properties Inc announced 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.

The Company’s portfolio consists of assets contributed by entities-owned by Hudson Capital, LLC; investment funds affiliated with Farallon Capital Management, L.L.C. (Farallon), which it refers to as the Farallon Funds; an investment vehicle whose general partner is owned by investment funds managed by Morgan Stanley, which it refers to as the Morgan Stanley Investment Partnership, and third parties. The Company is focused on owning 12 properties located in six California submarkets, containing a global of approximately four million square feet.

As of December 31, 2011, investment funds affiliated with Farallon Capital Management, L.L.C. (Farallon), which it refer to as the Farallon Funds, owned an approximate 28.1% beneficial interest in its company. As of December 31, 2011, its portfolio consisted of 15 wholly owned properties, located in eight California submarkets, containing a total of approximately 4.4 million square feet.

Office Portfolio

The Company’s portfolio consists of 15 office properties comprising an aggregate of approximately 3.6 million square feet. As of December 31, 2011, its office properties were approximately 91% leased. All of its office properties are located in prime California submarkets.

Media and Entertainment Portfolio

The Company’s portfolio of operating properties includes two properties that it considers to be media and entertainment properties, encompassing an aggregate of 878,196 square feet. The Company’s portfolio consists of Sunset Gower and Sunset Bronson. Sunset Gower Primary Tenants includes Blind Decker Productions (Dexter).

Company Address

Hudson Pacific Properties Inc

Suite 1600, 11601 Wilshire Boule
LOS ANGELES   CA   90025
P: +1310.4455700
F: +1310.4455710

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