Company: HPP
Filing Date: 2025-07-15
Form Type: S-3
Source: 0001193125-25-159399
Chunk: 57

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-07-15
Form: S-3
Chunk 57
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 comparable space. Whether rents paid by a taxable REIT subsidiary are substantially comparable to rents paid by other tenants is determined at the time the lease with the taxable REIT subsidiary is entered into, extended, and modified, if such 
 modification increases the rents due under such lease. Notwithstanding the foregoing, however, if a lease with a “controlled taxable REIT subsidiary” is modified and such modification results in an increase in the rents payable by such         
 taxable REIT subsidiary, any such increase will not qualify as “rents from real property.” For purposes of this rule, a “controlled taxable REIT subsidiary” is a taxable REIT subsidiary in which the parent REIT owns stock                       
 possessing more than 50% of the voting power or more than 50% of the total value of the outstanding stock of such taxable REIT subsidiary. We currently lease space to subsidiaries of a taxable REIT subsidiary of ours                            |

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| at our media and entertainment properties and may, from time to time, enter into additional leases with one or more taxable REIT subsidiaries. To the extent any rent from such leases do not 
 satisfy the 90% rental exception described above, our receipt of such rent will not qualify under the gross income tests;                                                                     |

| • |     | Rent attributable to personal property, leased in connection with a lease of real property, is not greater than                                                                                                                                       
 15% of the total rent received under the lease. If this condition is not met, then the portion of the rent attributable to personal property will not qualify as “rents from real property.” To the extent that rent attributable to personal         
 property, leased in connection with a lease of real property, exceeds 15% of the total rent received under the lease, we may transfer a portion of such personal property to a taxable REIT subsidiary. From time to time, one or more of our taxable 
 REIT subsidiaries may own personal property leased to tenants at certain of our properties; and                                                                                                                                                       |

| • |     | We generally may not operate or manage the property or furnish or render services to our tenants, subject to a                                                                                                                                                                                                                                                           
 1% de minimis exception and except as provided below. We may, however, perform services that are “usually or customarily rendered” in connection with the rental of space for occupancy only and are not otherwise considered                                                                                                                                            
 “rendered to the occupant” of the property. Examples of these services include the provision of light, heat, or other utilities, trash removal and general maintenance