Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 101

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 101
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 the three and six months ended June 30, 2024, the Company recognized $0.3 million and $0.6 million, respectively, of related rental expense.

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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)

20. Commitments and Contingencies

Fund InvestmentsThe Company invests in several non-real estate funds with an aggregate commitment to contribute up to $51.0 million. As of June 30, 2025, the Company has contributed $42.8 million to these funds, net of distributions, with $8.2 million remaining to be contributed. LegalFrom time to time, the Company is party to various lawsuits, claims 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 June 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 June 30, 2025, the Company had $9.6 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.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 June 30, 2025, the Company had $98.7 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:Six Months Ended June 30,20252024Cash paid for interest, net of capitalized interest$79,116 $78,981 Non-cash investing and financing activitiesAccounts payable and accrued liabilities for real estate investments$99,394 $95,782 Remeasurement of operating lease liabilities and related right-of-use assets$5,551 $— Redemption of common units in the operating partnership$— $133 Assets recognized upon consolidation of previously unconsolid