Company: HPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001482512-25-000150
Chunk: 71

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 are excluded from net loss. The Company held ownership interests in other immaterial unconsolidated joint ventures in the total of $0.2 million and $0.1 million as of September 30, 2025 and December 31, 2024, respectively.The table below presents the combined and condensed balance sheets for the Company’s unconsolidated joint ventures:September 30, 2025December 31, 2024(1)ASSETSInvestment in real estate, net$1,199,135 $1,089,951 Other assets69,319 41,177 TOTAL ASSETS$1,268,454 $1,131,128 LIABILITIESSecured debt, net$569,267 $447,581 Other liabilities56,623 49,115 TOTAL LIABILITIES625,890 496,696 Company’s capital(2)188,391 193,732 Partners’ capital454,173 440,700 TOTAL CAPITAL642,564 634,432 TOTAL LIABILITIES AND CAPITAL$1,268,454 $1,131,128 __________________ 1.Does not include balances related to Sunset Glenoaks Studios, which was accounted for as a consolidated entity as of December 31, 2024, but accounted for as an equity method investment as of September 30, 2025.

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Table 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)

2.To the extent the Company’s cost basis is different from the basis reflected at the joint venture level, the basis is amortized over the life of the related asset and is included in the loss from unconsolidated real estate entities line item on the Consolidated Statements of Operations.The table below presents the combined and condensed statements of operations for the Company’s unconsolidated joint ventures:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024TOTAL REVENUES$17,511 $17,010 $49,777 $56,075 TOTAL EXPENSES20,984 32,358 60,142 86,054 NET LOSS(1)$(3,473)$(15,348)$(10,365)$(29,979)________________