Company: HPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001482512-25-000150
Chunk: 69

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 related to the real estate assets of its 625 Second office property. The impairment charge reflected a shortened expected holding period for the property and a reduction in the carrying value of the property to its estimated fair value based on the contractual sales price, which is considered a Level 2 measurement. The impairment charge is recorded within impairment loss on the Consolidated Statement of Operations. The property was subsequently sold on May 30, 2025.During the three and nine months ended September 30, 2024, the Company recorded impairment charges totaling $34.4 million related to the real estate assets of its Maxwell, Foothill Research Center and 3176 Porter properties. The impairment charges reflected a shortened expected holding period for the properties and a reduction in the carrying value of the properties to their estimated fair value based on non-binding purchase offers from third party buyers, which is considered a Level 2 measurement. The impairment charges are recorded within impairment loss on the Consolidated Statements of Operations. The properties were subsequently sold.

4. Non-Real Estate Property, Plant and Equipment, net

The following table summarizes the Company’s non-real estate property, plant and equipment, net as of:September 30, 2025December 31, 2024Trailers$81,859 $77,903 Production equipment43,323 42,954 Trucks and other vehicles25,109 22,035 Leasehold improvements30,566 21,792 Furniture, fixtures and equipment2,001 2,454 Other equipment16,497 14,912 Non-real estate property, plant and equipment, at cost199,355 182,050 Accumulated depreciation(67,715)(54,983)NON-REAL ESTATE PROPERTY, PLANT AND EQUIPMENT, NET$131,640 $127,067 The Company did not recognize any impairment charges for non-real estate property, plant and equipment during the nine months ended September 30, 2025 and 2024.

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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)

5. Investment in Unconsolidated Real Estate Entities

The following table summarizes the Company’s investments in unconsolidated joint ventures:PropertyProperty TypeSubmarketOwnership InterestFunctional CurrencySunset Waltham Cross StudiosFuture DevelopmentBroxbourne,