Company: HPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001482512-25-000150
Chunk: 101

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 101
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 and other legal proceedings arising out of, or incident to, the ordinary course of business. Management believes, based in part upon consultation with legal counsel, that the ultimate resolution of all such claims will not have a material adverse effect on the Company’s results of operations, financial position or cash flows. As of September 30, 2025, the risk of material loss from such legal actions impacting the Company’s financial condition or results from operations has been assessed as remote.Letters of CreditAs of September 30, 2025, the Company had $7.2 million in outstanding letters of credit under the unsecured revolving credit facility, the majority of which was related to the completion guarantee associated with the Sunset Pier 94 Studios development. Additionally, the Company had $11.7 million in outstanding letters of credit related to tenant improvement obligations for the properties securing the Office Portfolio CMBS loan.Contractual ObligationsThe Company has entered into a number of construction agreements related to its development activities at various properties and its obligations under executed leases. As of September 30, 2025, the Company had $109.4 million in related commitments.

21. Supplemental Cash Flow Information

Supplemental cash flow information for Hudson Pacific Properties, Inc. and Hudson Pacific Properties, L.P. is included as follows:Nine Months Ended September 30,20252024Cash paid for interest, net of capitalized interest$129,326 $129,544 Non-cash investing and financing activitiesAccounts payable and accrued liabilities for real estate investments$111,225 $103,969 Operating lease liability remeasurements$9,024 $7,750 Assets derecognized upon deconsolidation of real estate entity$244,438 $— Liabilities derecognized upon deconsolidation of real estate entity$103,912 $— Operating lease liabilities recorded in connection with right-of-use assets$— $2,809 Redemption of common units in the operating partnership$— $133 Assets recognized upon consolidation of previously unconsolidated real estate entity$— $197,968 Liabilities recognized upon consolidation of previously unconsolidated real estate entity$— $86,565 Derecognition of equity method investment upon consolidation of previously unconsolidated real estate entity $— $55,593 

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Table of ContentsHudson Pacific Properties, Inc. and Hudson Pacific Properties, L.P.Notes to Unaud