Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 100

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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ized (gain) loss on non-real estate investments(212)1,045 237 1,943 Loss (gain) on sale of real estate, net16 — (10,007)— Impairment loss— — 18,476 — Loss on extinguishment of debt1,637 — 3,495 — Other loss (income)93 (1,334)85 (1,477)Income tax provision454 510 648 510 TOTAL PROFIT FROM ALL SEGMENTS$81,949 $104,744 $167,150 $208,711 

19. Related Party Transactions

Employment AgreementsThe Company has entered into employment agreements with certain of its executive officers, effective January 1, 2025, that provide for various severance and change in control benefits and other terms and conditions of employment.Cost Reimbursements from Unconsolidated Real Estate EntitiesThe Company is reimbursed for certain costs incurred in managing certain of its unconsolidated real estate entities. During the three and six months ended June 30, 2025, the Company recognized $1.1 million and $2.1 million, respectively, of such reimbursement income in management services reimbursement income—unconsolidated real estate entities on the Consolidated Statements of Operations. During the three and six months ended June 30, 2024, the Company recognized $1.0 million and $2.2 million, respectively of such reimbursement income in management services reimbursement income—unconsolidated real estate entities on the Consolidated Statements of Operations.Related Party LeasesThe Company’s wholly-owned subsidiary is party to long-term operating lease agreements with an unconsolidated joint venture for office space and fitness and conference facilities. As of June 30, 2025, the Company’s ROU assets and lease liabilities related to these lease obligations were $4.7 million and $4.9 million, respectively as compared to ROU assets and lease liabilities of $4.9 million and $5.1 million, respectively, as of December 31, 2024. During the three and six months ended June 30, 2025, the Company recognized $0.3 million and $0.5 million, respectively, of related rental expense in management services expense—unconsolidated real estate entities on the Consolidated Statements of Operations related to these leases. During