Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 68

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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0 %Sunset Las Palmas Entertainment Properties, LLCSunset Las Palmas Studios, Harlow51.0 %Sunset Services Holdings, LLCNone(1)51.0 %Sunset Studios Holdings, LLCEPIC51.0 %Hudson Media and Entertainment Management, LLCNone(2)51.0 %Hudson 6040 Sunset, LLC6040 Sunset51.0 %Sun Valley Peoria, LLCSunset Glenoaks Studios50.0 %Sun Valley Services, LLCNone(3)50.0 %Hudson 1918 Eighth, L.P.1918 Eighth55.0 %__________________ 1.Sunset Services Holdings, LLC is the taxable REIT subsidiary (“TRS”) which wholly owns Services Holdings, LLC, which owns 100% interests in Sunset Bronson Services, LLC, Sunset Gower Services, LLC and Sunset Las Palmas Services, LLC, which are the TRS subsidiaries related to Sunset Bronson Studios, Sunset Gower Studios and Sunset Las Palmas Studios, respectively.2.Hudson Media and Entertainment Management, LLC manages the following properties: Sunset Gower Studios, Sunset Bronson Studios, Sunset Las Palmas Studios, 6040 Sunset, ICON, CUE, EPIC and Harlow (collectively “Hollywood Media Portfolio”), as well as Sunset Glenoaks Studios.3.Sun Valley Services, LLC is the TRS related to Sunset Glenoaks Studios.As of June 30, 2025 and December 31, 2024, the Company has determined that its operating partnership met the definition of a VIE and is consolidated. Substantially all of the assets and liabilities of the Company are related to the operating partnership VIE. The assets and credit of certain VIEs can only be used to satisfy those VIEs’ own contractual obligations, and the VIEs’ creditors have no recourse to the general credit of the Company.Unconsolidated Joint VenturesAs of June 30, 2025, the Company has determined it is not the primary beneficiary of six of its joint ventures that are VIEs. Due to its significant influence over the unconsolidated entities, the Company accounts for them using the equity method of accounting. Under the equity method, the Company initially records the investment at cost and subsequently adjusts for equity in earnings or losses and cash contributions and distributions. Refer to Note 5 for further details regarding our investments in unconsolidated joint ventures.

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