Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 122

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 122
---
0.6 million, or 499.1%, to $0.5 million of expense for the three months ended June 30, 2025 compared to $0.1 million of income for the three months ended June 30, 2024. The increase was primarily related to legal expenses incurred in connection with early lease terminations at Quixote during the three months ended June 30, 2025.

52

Unrealized gain (loss) on non-real estate investments

We recognized an unrealized gain on non-real estate investments of $0.2 million for the three months ended June 30, 2025 compared to an unrealized loss of $1.0 million for the three months ended June 30, 2024, which were due to the observable changes in the fair value of the investments.

Loss on sale of real estate, net

During the three months ended June 30, 2025, we recognized a net loss on sale of $16 thousand attributable to the sale of our 625 Second property. No gain or loss on sale was recognized during the three months ended June 30, 2024.

Loss on extinguishment of debt

During the three months ended June 30, 2025, we recognized a loss on extinguishment of debt of $1.6 million related to the early repayment of the Series B, C and D notes. No gain or loss on extinguishment of debt was recognized during the three months ended June 30, 2024.

Other (expense) income

During the three months ended June 30, 2025, we recognized other expense of $0.1 million. During the three months ended June 30, 2024 we recognized other income of $1.3 million related to the sale of a non-real estate investment.

Income tax provision

There was no significant change in the income tax provision. We recognized a provision of $0.5 million for the three months ended June 30, 2025 compared to $0.5 million for the three months ended June 30, 2024.

General and administrative expenses

General and administrative expenses increased by $7.1 million, or 34.2%, to $27.8 million for the three months ended June 30, 2025 compared to $20.7 million for the three months ended June 30, 2024. The increase was primarily due to the accelerated recognition of $14.3 million of compensation expense related to the