Company: HPP
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001482512-25-000029
Chunk: 218

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 218
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 venture partner debt and unamortized deferred financing costs and loan discount. 

2.Equity capitalization represents the shares of common stock outstanding (including unvested restricted shares), OP and LTIP units outstanding, restricted performance units and dilutive shares multiplied by the closing price of $3.03, as reported by the NYSE, on December 31, 2024 as well as the aggregate value of the Series C preferred stock liquidation preference as of December 31, 2024.                                                                                                                                                                                                                                                                                                                                                                                                    

Outstanding Indebtedness

The following table sets forth information as of December 31, 2024 and December 31, 2023 with respect to our outstanding indebtedness, excluding unamortized deferred financing costs and loan discounts (in thousands):December 31, 2024December 31, 2023Unsecured debt$2,435,000 $2,307,000 Secured debt$1,752,667 $1,653,067 Joint venture partner debt$66,136 $66,136 

The operating partnership was in compliance with its financial covenants as of December 31, 2024.  

Credit Ratings

The following table provides information with respect to our credit ratings at December 31, 2024:

AgencyCredit RatingMoody’sB2Standard and Poor’sBB-FitchBB-

Liquidity Uses

Contractual Obligations

The following table provides information with respect to our commitments at December 31, 2024, including any guaranteed or minimum commitments under contractual obligations (in thousands): Payments Due by PeriodContractual ObligationTotalLess than 1 Year1-3 Years3-5 YearsMore than 5 YearsPrincipal payments on unsecured and secured debt(1)$4,187,667 $741,300 $2,095,367 $951,000 $400,000 Principal payments on joint venture partner debt(1)66,136 — — — 66,136 Interest payments—fixed rate(1)(2)(3)375,416 128,974 171,251 66,433 8,758 Interest payments—variable rate(1)(2)(4)128,620 76,775 51,845 — — Operating leases(5)712,548 42,072 83,175 78,888 508,413 TOTAL$5,470,387