Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 114

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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 square foot(2)(3)$17.26 $25.42 $17.88 $26.23 Leasing commission costs per square foot(2)11.23 14.05 9.88 12.25 Total tenant improvement and leasing commission costs(2)$28.49 $39.47 $27.76 $38.48 New leases(4)Number of leases41 49 76 82 Square feet334,955 356,056 750,070 649,115 Tenant improvement costs per square foot(2)(3)$54.10 $58.33 $64.90 $50.24 Leasing commission costs per square foot(2)14.26 11.65 14.33 12.43 Total tenant improvement and leasing commission costs(2)$68.36 $69.98 $79.23 $62.67 TOTALNumber of leases72 82 134 152 Square feet558,055 539,531 1,188,350 1,048,146 Tenant improvement costs per square foot(2)(3)$38.13 $47.19 $47.24 $41.46 Leasing commission costs per square foot(2)12.95 12.46 12.65 12.37 TOTAL TENANT IMPROVEMENT AND LEASING COMMISSION COSTS(2)$51.08 $59.65 $59.89 $53.83 

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1.Excludes retained tenants that have relocated or expanded into new space within our portfolio.    

2.Assumes all tenant improvement and leasing commissions are paid in the calendar year in which the lease is executed, which may be different than the year in which they were actually paid.

3.Tenant improvement costs are based on negotiated tenant improvement allowances set forth in leases, or, for any lease in which a tenant improvement allowance was not specified, the aggregate cost originally budgeted at the time the lease commenced.

4.Includes retained tenants that have relocated or expanded into new space within our portfolio.

Financings

During the six months ended June 30, 2025, there were $320.0 million of repayments on the unsecured revolving credit facility, net of borrowings. The Company generally uses the unsecured revolving credit facility to finance the acquisition of properties and businesses, to provide funds for