Company: HPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001482512-25-000043
Chunk: 63

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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Other assets41,270 41,177 TOTAL ASSETS$1,144,345 $1,131,128 LIABILITIESSecured debt, net$448,341 $447,581 Other liabilities51,602 49,115 TOTAL LIABILITIES499,943 496,696 Company’s capital(1)197,450 193,732 Partners’ capital446,952 440,700 TOTAL CAPITAL644,402 634,432 TOTAL LIABILITIES AND CAPITAL$1,144,345 $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.

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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)

The table below presents the combined and condensed statements of operations for the Company’s unconsolidated joint ventures:Three Months Ended March 31,20252024TOTAL REVENUES$15,680 $17,278 TOTAL EXPENSES21,697 21,753 NET LOSS$(6,017)$(4,475)

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:March 31, 2025December 31, 2024Deferred leasing costs and in-place lease intangibles$243,299 $244,463 Accumulated amortization(119,954)(116,868)Deferred leasing costs and in-place lease intangibles, net123,345 127,595 Lease incentives36,098 34,352 Accumulated amortization(1,827)(1,203)Lease incentives, net34,271 33,149 Below-market ground leases74,930 74,930 Accumulated amortization(22,266)(21,626)Below-market ground leases, net52,664 53,304 Above-market leases301 636 Accumulated amortization(277)(437)Above-market leases, net24 199