Company: HPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001482512-25-000043
Chunk: 60

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 retrospectively. The Company is currently evaluating this guidance and the impact it may have on the Company’s consolidated financial statements.

3. Investment in Real Estate

The following table summarizes the Company’s investment in real estate, at cost as of:March 31, 2025December 31, 2024Land$1,225,230 $1,235,974 Building and improvements6,078,260 6,101,787 Tenant improvements727,967 728,186 Furniture and fixtures5,807 5,895 Property under development152,029 161,444 INVESTMENT IN REAL ESTATE, AT COST$8,189,293 $8,233,286 Acquisitions of Real EstateThe Company had no acquisitions of real estate during the three months ended March 31, 2025.

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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)

Dispositions of Real EstateThe following table summarizes information on dispositions completed during the three months ended March 31, 2025. These properties were considered non-strategic to the Company’s portfolio:PropertySegmentDate of Disposition Square Feet (unaudited)Sales Price(1) (in millions)(Loss) Gain on Sale(2) (in millions)MaxwellOffice1/22/2025102,963 $46.0 $(2.2)Foothill Research CenterOffice3/4/2025195,121 $23.0 $12.2 __________________ 1.Represents gross sales price before certain credits, prorations and closing costs.2.Included within gain on sale of real estate, net on the Consolidated Statement of Operations.Held for SaleAs of March 31, 2025, the Company classified its 138,354 square-foot (unaudited) 625 Second office property as held for sale. The property was identified as non-strategic to the Company’s portfolio. The following table summarizes the components of assets and liabilities associated with real estate held for sale as of March 31, 2025:Investment in real estate, net$25,608 Straight-line rent receivables, net165 Deferred leasing costs and intangible assets, net125 Prepaid expenses and other assets, net7 ASSETS