Hudson Pacific Properties, Inc., is a Maryland corporation formed on November 9, 2009. The Company is a full-service, vertically integrated real estate company focused on owning, operating and acquiring high-quality office and media and entertainment properties in select growth markets, primarily in Northern and Southern California. These markets include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay and the Pacific Northwest, which it refers to as its target markets. The Company reports its results of operations through two segments: office properties and media and entertainment properties. The office properties reporting segment includes 24 properties totaling approximately 5.3 million square feet located in many of its target markets; while the media and entertainment reporting segment includes two properties, the Sunset Gower property and the Sunset Bronson property, totaling approximately 0.9 million square feet located in Hollywood, California. The Company competes with number of developers, owners and operators of office and commercial real estate, many of which own properties similar to the Company in the same markets in which its properties are located and some of which have greater financial resources than the Company. The Company's properties are subject to various covenants, laws, ordinances and regulations, including regulations relating to common areas and fire and safety requirements. Under various federal, state and local laws and regulations relating to the environment, as a current or former owner or operator of real property, the Company may be liable for costs and damages resulting from the presence or discharge of hazardous or toxic substances, waste or petroleum products at, on, in, under, or migrating from such property, including costs to investigate and clean up such contamination and liability for natural resources.