Company: HPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001482512-25-000043
Chunk: 15

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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; and

•Non-same-store, which includes:

•Stabilized non-same-store properties

•Lease-up properties

•Repositioning properties 

•Development properties

•Redevelopment properties

•Held for sale properties

•Operating results from studio service-related businesses

46

The following table reconciles net loss to NOI:

Three Months Ended March 31,Dollar ChangePercent Change20252024Net loss$(80,278)$(53,355)$(26,923)50.5 %Adjustments:Loss from unconsolidated real estate entities1,254 743 511 68.8 Fee income(1,359)(1,125)(234)20.8 Interest expense43,505 44,089 (584)(1.3)Interest income(435)(854)419 (49.1)Management services reimbursement income—unconsolidated real estate entities(975)(1,156)181 (15.7)Management services expense—unconsolidated real estate entities975 1,156 (181)(15.7)Transaction-related expenses— 2,150 (2,150)(100.0)Unrealized loss on non-real estate investments449 898 (449)(50.0)Gain on sale of real estate, net(10,023)— (10,023)— Impairment loss18,476 — 18,476 — Loss on extinguishment of debt1,858 — 1,858 — Other income(8)(143)135 (94.4)Income tax provision194 — 194 — General and administrative18,483 19,710 (1,227)(6.2)Depreciation and amortization93,085 91,854 1,231 1.3 NOI$85,201 $103,967 $(18,766)(18.0)%Same-store NOI$92,543 $100,484 $(7,941)(7.9)%Non-same-store NOI(7,342)3,483 (10,825)(310.8)NOI$85,201 $103,967 $(18,766)(18.0)%

The following table summarizes certain statistics of our consolidated same-store office and studio properties:

Three Months Ended March 31,20252024Same-store officeNumber of properties3838Rent