Company: HPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001482512-25-000150
Chunk: 33

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 33
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Ownership InterestAmount DrawnUndrawn CapacityTotal CapacityInterest RateContractual Maturity DateBentall Centre(1)20 %$470,821 $4,258 $475,079 CORRA + 2.30%7/1/2027Sunset Glenoaks Studios(2)50 %$100,600 $— $100,600 SOFR + 3.10%1/9/2027Sunset Pier 94 Studios(3)26 %$120,934 $62,266 $183,200 SOFR + 4.75%9/9/2028

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(1)The loan was transacted in Canadian dollars. Amounts are shown in U.S. dollars using the foreign currency exchange rate as of September 30, 2025. This loan is interest-only through its term.

(2)This loan has an initial interest rate of SOFR + 3.10% per annum until the construction at Sunset Glenoaks Studios is complete and certain performance targets have been met, at which time the effective interest rate will decrease to SOFR + 2.50%. This loan is interest-only through its term. The maturity date includes the effect of extension options. The floating interest rate on the full principal amount has been effectively capped at 4.50% through the use of an interest rate cap.

(3)This loan has an initial interest rate of SOFR + 4.75% per annum until stabilization of the project, at which time the effective interest rate will decrease to SOFR + 4.00%. This loan is interest-only through its term. The maturity date includes the effect of extension options.

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Critical Accounting Policies 

Our discussion and analysis of our historical financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with GAAP. The preparation of our financial statements in conformity with GAAP requires us to make estimates of certain items and judgments as to certain future events, for example with respect to the assignment of the purchase price of an acquired property among land, buildings, improvements, equipment and any related intangible assets and liabilities, or the effect of a property tax reassessment of our properties. These determinations, even though inherently subjective and prone to change, affect the reported amounts of our assets, liabilities, revenues and expenses. While we believe that our estimates are based on reasonable assumptions and judgments at the time they are made