Hudson Pacific Properties Inc（HPP）のニュースとイベントHPPHudson Pacific Properties Inc

Hudson Pacific Properties Launches $200 Million Bond Buyback

Hudson Pacific Properties announced that its operating partnership, Hudson Pacific Properties has commenced an offer to purchase for cash up to a combined aggregate principal amount of $200,000,000 of the Company's outstanding 3.950% Senior Notes due 2027 and 5.950% Senior Notes due 2028, subject to the Allocation Procedures, including the Proration Factor. The Company is offering to purchase $100,000,000 aggregate principal amount of each Series of Notes. The terms and conditions of the Tender Offer are described in an Offer to Purchase dated October 5. The Tender Offer is subject to the satisfaction of certain conditions as set forth in the Offer to Purchase. Capitalized terms used in this press release and not defined herein have the meanings given to them in the Offer to Purchase. As used herein, all Notes that have been validly tendered and not validly withdrawn at or prior to the Expiration Date are referred to as having been "validly tendered" as of the Expiration Date. The Tender Offer will expire at 5:00 p.m., New York City time, on October 9.

Hudson Pacific Completes Sale of San Francisco Properties for $65.5M

Hudson Pacific Properties has completed the sale of 875 and 899 Howard, two downtown San Francisco properties totaling approximately 284,000 square feet, for $65.5M before prorations and closing costs. 875 Howard is an approximately 188,000-square-foot office building that was 36% occupied at the time of sale, with its remaining major lease expiring next year. 899 Howard, an approximately 96,000-square-foot former retail building, was fully vacant. Hudson Pacific secured entitlements to convert two floors of 899 Howard to office use before the sale, enhancing its appeal to buyers. Together with the previously announced sale of 2001 Gateway in North San Jose, Hudson Pacific has completed $90.5M of asset sales in the third quarter. The company intends to use net proceeds for general corporate purposes.

Hudson Pacific Extends $1.1B Loan Maturity to 2027

Hudson Pacific Properties and its joint venture partner have extended the $1.1B CMBS loan secured by the Hollywood Media Portfolio. The extension moves the loan's maturity to November 9, 2027, with the stated interest rate unchanged and no principal paydown required at closing. The 2.2 million-square-foot Hollywood Media Portfolio includes three premier Hollywood studio lots, Sunset Gower Studios, Sunset Las Palmas Studios and Sunset Bronson Studios, along with five on-lot or adjacent Class A office properties, ICON, EPIC, Harlow, 6040 Sunset and CUE. The portfolio also includes rights to build another 1.1 million square feet of office and production space. Hudson Pacific owns a 51% interest in the portfolio through its joint venture and oversees day-to-day operations, leasing and development. As part of the extension, the joint venture will reallocate partnership funds to a $20M leasing reserve at closing. Excess cash flow from the portfolio will be swept to the reserve to fund on-going capital needs for the duration of the loan term. Hudson Pacific also entered into a derivative to swap SOFR at 3.50% through maturity. Reported interest expense will include fees and costs associated with the extension and derivative.