Company: HPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001482512-25-000150
Chunk: 72

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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__ 1.The results of Sunset Glenoaks Studios are excluded for the period of time during which it was accounted for as a consolidated joint venture. See Note 2 for details.

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:September 30, 2025December 31, 2024Deferred leasing costs and in-place lease intangibles$240,686 $244,463 Accumulated amortization(118,467)(116,868)Deferred leasing costs and in-place lease intangibles, net122,219 127,595 Lease incentives92,424 34,352 Accumulated amortization(4,826)(1,203)Lease incentives, net87,598 33,149 Below-market ground leases74,930 74,930 Accumulated amortization(23,548)(21,626)Below-market ground leases, net51,382 53,304 Above-market leases200 636 Accumulated amortization(199)(437)Above-market leases, net1 199 Customer relationships97,900 97,900 Accumulated amortization(50,892)(40,380)Customer relationships, net47,008 57,520 Non-competition agreements5,300 8,200 Accumulated amortization(4,371)(4,926)Non-competition agreements, net929 3,274 Trade name37,200 37,200 Parking easement15,273 15,273 DEFERRED LEASING COSTS AND INTANGIBLE ASSETS, NET$361,610 $327,514 Below-market leases$39,628 $40,535 Accumulated amortization(20,851)(18,697)INTANGIBLE LIABILITIES, NET$18,777 $21,838 

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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 Company recognized the following amortization related to deferred leasing costs and intangibles:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Deferred leasing costs and in-place lease intangibles(1)$(7