Company: HPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001482512-25-000150
Chunk: 111

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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 useful information to investors regarding the Company’s financial condition and/or results of operations because we have several significant joint ventures, and in some cases, we exercise significant influence over, but do not control, the joint venture. In such instances, GAAP requires us to account for the joint venture entity using the equity method of accounting, which we do not consolidate for financial reporting purposes. In other cases, GAAP requires us to consolidate the venture even though our partner(s) own(s) a significant percentage interest. As a result, management believes that presenting HPP’s share of various financial measures in this manner can help investors better understand the Company’s financial condition and/or results of operations after taking into account its true economic interest in these joint ventures.

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Office Lease Expirations

The following table summarizes the lease expirations for leases in place as of September 30, 2025, plus available space, at the properties in our office portfolio. Unless otherwise stated in the footnotes, the information set forth in the table assumes that tenants did not exercise any renewal options.

HPP’s ShareYear of Lease Expiration# of Leases Expiring(1)Square Feet Expiring Annualized Base Rent(2)Percent of Office Portfolio Annualized Base RentAnnualized Base Rent Per Leased Square Foot(2)Annualized Base Rent at Expiration(2)Annualized Base Rent Per Lease Square Foot at Expiration(2)Vacant3,916,655 Q4-202534 141,816 4,428,987 1.0 50.27 4,431,696 50.30 Total 202534 141,816 4,428,987 1.0 50.27 4,431,696 50.30 2026139 1,022,988 51,392,903 11.2 56.88 51,305,459 56.79 2027149 1,236,585 68,653,281 14.9 59.44 71,567,441 61.96 2028127 1,518,106 90,369,586 19.6 69.54 95,944,643 73.83 202989 742,778 36,010,820 7.8 64.71 40,094,305 72.05 203079 1,809,624 78,635,256