Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 32

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 32
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 Quixote.

Investing Activities  

Net cash used in investing activities decreased by $113.0 million, or 93.3%, to $8.1 million for the six months ended June 30, 2025 compared to $121.0 million for the six months ended June 30, 2024. The decrease primarily resulted from $88.3 million of proceeds from sales of real estate, a $21.2 million decrease in contributions to unconsolidated entities and a $12.6 million decrease in additions to investment in real estate during the six months ended June 30, 2025. The decrease was partially offset by the $8.8 million effect of consolidating a previously unconsolidated entity during the six months ended June 30, 2024.

Financing Activities

Net cash provided by financing activities increased by $146.5 million, or 13,765.8%, to $147.5 million for the six months ended June 30, 2025 compared to $1.1 million for the six months ended June 30, 2024. The increase primarily resulted from  $656.8 million of net proceeds raised in our offering of common stock and pre-funded warrants in June 2025, which was offset by a $561.0 million increase in repayments of notes payable, net of proceeds, during the six months ended June 30, 2025. Additionally, during the six months ended June 30, 2024, $40.9 million was spent on the purchase of our partner’s interest in our 1455 Market property, which contributed to the comparative increase in net cash provided by financing activities during the six months ended June 30, 2025.

Off-Balance Sheet Arrangements

Unconsolidated Joint Venture Indebtedness

We have investments in unconsolidated real estate entities accounted for using the equity method of accounting. The following table provides information about our unconsolidated joint venture indebtedness as of June 30, 2025 (in thousands, except for percentages):

Ownership InterestAmount DrawnUndrawn CapacityTotal CapacityInterest RateContractual Maturity DateBentall Centre(1)20 %$478,199 $6,992 $485,191 CORRA + 2.30%7/1/2027Sunset Pier 94 Studios(2)26 %$95,811 $87,389 $183,200 SO