Company: HPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001482512-25-000150
Chunk: 21

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 21
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 performance from the following groups:

•Same-store, which includes all of the properties owned and included in our stabilized portfolio as of January 1, 2024 and still owned and included in the stabilized portfolio as of September 30, 2025; and

•Non-same-store, which includes:

•Stabilized non-same-store properties

54

•Lease-up properties

•Repositioning properties

•Development properties

•Redevelopment properties

•Held for sale properties

•Operating results from studio service-related businesses

The following table reconciles net loss to NOI:    Nine Months Ended September 30,Dollar ChangePercent Change20252024Net loss$(312,124)$(207,925)$(104,199)50.1 %Adjustments:Loss from unconsolidated real estate entities2,203 6,443 (4,240)(65.8)Fee income(3,917)(3,933)16 (0.4)Interest expense133,368 133,253 115 0.1 Interest income(4,770)(1,975)(2,795)141.5 Management services reimbursement income—unconsolidated real estate entities(3,182)(3,187)5 (0.2)Management services expense—unconsolidated real estate entities3,182 3,187 (5)(0.2)Transaction-related expenses590 2,306 (1,716)(74.4)Unrealized loss on non-real estate investments2,335 3,024 (689)(22.8)Gain on sale of real estate, net(10,007)— (10,007)— Impairment loss18,476 36,543 (18,067)(49.4)Loss on deconsolidation of real estate entity77,907 — 77,907 — Loss on extinguishment of debt3,702 — 3,702 — Other income(516)(1,449)933 (64.4)Income tax provision672 2,693 (2,021)(75.0)General and administrative59,968 59,959 9 — Depreciation and amortization281,921 265,324 16,597 6.3 NOI$249,808 $294,263 $(44,455)(15.1)%Same-store