Company: HPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001482512-25-000150
Chunk: 32

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 32
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 the nine months ended September 30, 2025 compared to $164.5 million for the nine months ended September 30, 2024. The decrease primarily resulted from the dispositions of our Foothill Research, Maxwell and 625 Second properties in 2025 and our 3176 Porter property in late 2024, lease terminations at our Met Park North, 1455 Market, Concourse, 83 King and 901 Market properties, lower production activity at Quixote and our Sunset Gower Studios property and one-time lease termination fees paid to exit several operating leases at Quixote.

Investing Activities  

Net cash used in investing activities decreased by $131.7 million, or 67.3%, to $64.1 million for the nine months ended September 30, 2025 compared to $195.8 million for the nine months ended September 30, 2024. The decrease primarily resulted from an $88.3 million increase in proceeds from sales of real estate, a $27.6 million decrease in additions to investment in real estate and a $26.9 million decrease in contributions to unconsolidated entities during the nine months ended September 30, 2025. 

Financing Activities

Net cash provided by financing activities increased by $91.7 million, or 352.0%, to $117.7 million for the nine months ended September 30, 2025 compared to $26.0 million for the nine months ended September 30, 2024. The increase primarily resulted from $656.2 million of net proceeds raised in our offering of common stock and pre-funded warrants in June 2025, which was partially offset by a $617.2 million increase in repayments of notes payable, net of proceeds, during the nine months ended September 30, 2025. Additionally, during the nine months ended September 30, 2024, we purchased our former partner’s interest in our 1455 Market property for $40.9 million, which contributed to the comparative increase in net cash provided by financing activities during the nine months ended September 30, 2025.

Off-Balance Sheet Arrangements

Unconsolidated Joint Venture Indebtedness

We have investments in unconsolidated real estate entities accounted for using the equity method of accounting. The following table provides information about our unconsolidated joint venture indebtedness as of September 30, 2025 (in thousands, except for percentages