Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 75

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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 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)

7. Accounts Receivable

The Company’s accounting policy and methodology used to estimate the allowance for doubtful accounts related to receivables are discussed in the Company’s 2024 Annual Report on Form 10-K. Accounts Receivable As of June 30, 2025, accounts receivable was $13.8 million and there was a $0.3 million allowance for doubtful accounts. As of December 31, 2024, accounts receivable was $15.0 million and there was a $0.5 million allowance for doubtful accounts.Straight-Line Rent ReceivablesAs of June 30, 2025, straight-line rent receivables was $204.0 million and there was no allowance for doubtful accounts. As of December 31, 2024, straight-line rent receivables was $199.7 million and there was no allowance for doubtful accounts.

8. Prepaid Expenses and Other Assets, net    

The following table summarizes the Company’s prepaid expenses and other assets, net as of:June 30, 2025December 31, 2024Non-real estate investments$48,460 $50,373 Deferred tax assets27 8 Interest rate derivative assets4,047 4,325 Prepaid insurance17,033 10,074 Deferred financing costs, net1,716 2,165 Prepaid property tax— 2,129 Other26,196 21,040 PREPAID EXPENSES AND OTHER ASSETS, NET$97,479 $90,114 Non-Real Estate InvestmentsThe Company measures its investments in funds that do not have a readily determinable fair value using the Net Asset Value (“NAV”) practical expedient and uses NAV reported without adjustment unless it is aware of information indicating the NAV reported does not accurately reflect the fair value of the investment. Changes in the fair value of these non-real estate investments are included in unrealized gain (loss) on non-real estate investments on the Consolidated Statements of Operations. During the three and six months ended June 30, 2025, the Company recognized an unrealized gain of $0.2 million and an unrealized loss of $0.2 million, respectively, on its non-real estate investments due