Hudson Pacific Properties Announces Redemption In Full Of 8.375% Series B Preferred Stock

LOS ANGELES--(BUSINESS WIRE)--

Hudson Pacific Properties, Inc. HPP today announced that it intends to redeem all 5,800,000 issued and outstanding shares of its 8.375% Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock") (CUSIP: 444097208). Series B Preferred Stock held through the Depository Trust Company will be redeemed in accordance with the applicable procedures of the Depository Trust Company.

The redemption date will be December 10, 2015. The Series B Preferred Stock will be redeemed at a redemption price of $25.00 per share, plus all accrued and unpaid dividends to, but not including, the redemption date in an amount equal to $0.401302 per share, for a total payment of $25.401302 per share, which will be payable in cash, without interest on the redemption date. After the redemption date, Series B Preferred Stock will no longer be deemed outstanding and all of the rights of the holders of Series B Preferred Stock will terminate, except the right to receive the redemption price, plus any accrued and unpaid dividends payable on the redemption date, without interest. Furthermore, because all of the issued and outstanding shares of Series B Preferred Stock are being redeemed, trading of the Series B Preferred Stock on the New York Stock Exchange ("NYSE") will cease after the redemption date. The Series B Preferred Stock currently trades on the NYSE under the symbol "HPP.PRB".

The notice of redemption and related materials are being mailed to holders of record of Series B Preferred Stock as of November 9, 2015. As specified in the notice of redemption, payment of the applicable redemption price, plus any accrued and unpaid dividends payable on the redemption date, without interest, will be made only upon presentation and surrender of the certificates representing the Series B Preferred Stock to the redemption agent, Computershare Inc. Questions regarding the redemption of the Series B Preferred Stock, or the procedures therefore, may be directed to Computershare Inc. at:

Computershare Inc.
Attention: Corporate Actions Department
250 Royall Street
Canton, Massachusetts 02021
Tel.: 1-855-396-2084

About Hudson Pacific Properties

Hudson Pacific Properties is a vertically integrated real estate company focused on acquiring, repositioning, developing and operating high-quality office and state-of-the-art media and entertainment properties in select West Coast markets. Hudson Pacific invests across the risk-return spectrum, favoring opportunities where it can employ leasing, capital investment and management expertise to create additional value. Founded in 2006 as Hudson Capital, the company went public in 2010, electing to be taxed as a real estate investment trust. Through the years, Hudson Pacific has strategically assembled a portfolio totaling approximately 17.3 million square feet, including land for development, in high-growth, high-barrier-to-entry submarkets throughout Northern and Southern California and the Pacific Northwest. The company is a leading provider of design-forward, next-generation workspaces for a variety of tenants, with a focus on Fortune 500 and industry-leading growth companies, many in the technology, media and entertainment sectors. As a long-term owner, Hudson Pacific prioritizes tenant satisfaction and retention, providing highly customized build-outs and working proactively to accommodate tenants' growth. Hudson Pacific trades as a component of the Russell 2000® and the Russell 3000® indices. For more information visit hudsonpacificproperties.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the company's control that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission, or SEC, on March 2, 2015, as amended, and other risks described in documents subsequently filed by the company from time to time with the SEC.

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