Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 110

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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Office/StudioHollywood478,845TBDTBDSunset Bronson Studios Lot D—Development(3)ResidentialHollywood33 units/19,816TBDTBDElement LA—DevelopmentOfficeWest Los Angeles500,000TBDTBD10900/10950 Washington(4)ResidentialWest Los AngelesN/ATBDTBDVancouver, British ColumbiaBurrard Exchange(5)OfficeDowntown Vancouver450,000TBDTBDGreater London, United KingdomSunset Waltham Cross Studios(6)StudioBroxbourne1,167,347TBDTBDTOTAL3,233,589 TOTAL UNDER CONSTRUCTION, RECENTLY COMPLETED AND FUTURE DEVELOPMENT4,011,589 

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1.Estimated square footage represents management’s estimate of leasable square footage, which may be less or more than the Building Owners and Managers Association (BOMA) rentable area. Square footage may change over time due to re-measurement or re-leasing. For land properties, square footage represents management’s estimate of developable square footage, the majority of which remains subject to entitlement approvals not yet obtained.

2.We own 25.6% of the ownership interest in the unconsolidated joint venture that owns Sunset Pier 94 Studios. 

3.We own 51% of the ownership interests in the consolidated joint venture that owns Sunset Bronson Studios, Sunset Gower Studios and Sunset Las Palmas Studios.

4.Pending entitlement to develop approximately 500 residential units.

5.We own 20% of the ownership interests in the unconsolidated joint venture that owns Burrard Exchange.

6.We own 35% of the ownership interests in the unconsolidated joint venture that owns Sunset Waltham Cross Studios.

Properties are selected for repositioning when an asset or portions of an asset are taken offline for a change of use or if the asset requires significant base building improvements resulting in substantial down time in occupancy. Studio development properties are incorporated into the in-service portfolio on the earlier of the one year anniversary of completion or the project’s estimated stabilization date. Office development properties are incorporated into the in-service portfolio on the earlier of reaching 92% occupancy or the project’s estimated stabilization date. 

The lease up of our recently completed and under construction office and studio developments requires no additional capital investment and provides an opportunity for near-to-mid-term cash flow growth.

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The following table summarizes the portions of office and studio projects currently under repositioning as