Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 73

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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447,581 Other liabilities57,717 49,115 TOTAL LIABILITIES533,405 496,696 Company’s capital(1)208,491 193,732 Partners’ capital477,326 440,700 TOTAL CAPITAL685,817 634,432 TOTAL LIABILITIES AND CAPITAL$1,219,222 $1,131,128 __________________ 1.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 June 30,Six Months Ended June 30,2025202420252024TOTAL REVENUES$16,586 $21,787 $32,266 $39,065 TOTAL EXPENSES17,461 31,943 39,158 53,696 NET LOSS$(875)$(10,156)$(6,892)$(14,631)

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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)

6. Deferred Leasing Costs and Intangible Assets, net and Intangible Liabilities, net

The following summarizes the Company’s deferred leasing costs and intangibles as of:June 30, 2025December 31, 2024Deferred leasing costs and in-place lease intangibles$246,303 $244,463 Accumulated amortization(121,416)(116,868)Deferred leasing costs and in-place lease intangibles, net124,887 127,595 Lease incentives73,241 34,352 Accumulated amortization(3,065)(1,203)Lease incentives, net70,176 33,149 Below-market ground leases74,930 74,930 Accumulated amortization(22,907)(21,626)Below-market ground leases, net52,023 53,304 Above-market leases200 636 Accumulated amortization(188)(437)Above-market leases, net12 199 Customer relationships97,900 97,900