Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 102

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 102
---
ated real estate entity$— $197,968 Liabilities recognized upon consolidation of previously unconsolidated real estate entity$— $86,565 Derecognition of equity method investment upon consolidation of previously unconsolidated real estate entity $— $55,593 

38

Table of ContentsHudson Pacific Properties, Inc. and Hudson Pacific Properties, L.P.Notes to Unaudited Consolidated Financial Statements(Unaudited, tabular amounts in thousands, except square footage, share and unit data)

Restricted cash primarily consists of amounts held by lenders to fund reserves such as capital improvements, taxes, insurance, debt service and operating expenditures. The following table provides a reconciliation of cash and cash equivalents and restricted cash at the beginning and end of the periods presented for Hudson Pacific Properties, Inc and Hudson Pacific Properties, L.P.:Six Months Ended June 30,20252024BEGINNING OF PERIODCash and cash equivalents$63,256 $100,391 Restricted cash35,921 18,765 TOTAL$99,177 $119,156 END OF PERIODCash and cash equivalents$236,025 $78,458 Restricted cash31,102 21,482 TOTAL$267,127 $99,940 

22. Subsequent Event

On July 18, 2025, 123,991 Series A preferred units were redeemed for cash consideration of $3.1 million.

39

Table of Contents

ITEM 2.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion relates to our consolidated financial statements and should be read in conjunction with the consolidated financial statements and the related notes, refer to Part I, Item 1 “Financial Statements of Hudson Pacific Properties, Inc.,” “Financial Statements of Hudson Pacific Properties, L.P.” and “Notes to Unaudited Consolidated Financial Statements.” Statements in this Item 2 contain forward-looking statements. For a discussion of important risks related to our business and related to investing in our securities, including risks that could cause actual results and events to differ materially from results and events referred to in the forward-looking statements, refer to Part II, Item 1A “Risk Factors.” In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this report might not occur. 

Forward-looking Statements

Certain written and oral statements made or incorporated by reference from time to time by us or our representatives in