Market Overview

Hudson Pacific Properties Sells San Mateo Office Campus for $210 Million


Hudson Pacific Properties, Inc. (NYSE:HPP) today announced the
sale of the remaining six buildings of Peninsula Office Park in San
Mateo for $210 million before credits, prorations and closing costs. The
all-cash transaction represents a 5.1% premium to the company's GAAP
basis and a 15.4% premium to the allocated purchase price.

"The sale of Peninsula Office Park's remaining six buildings exemplifies
our approach to recycling capital to further focus on strategic holdings
in our core markets," said Victor Coleman, Hudson Pacific's Chairman and
CEO. "We will continue to enhance our already high-caliber office
portfolio by capitalizing on favorable market conditions, and we are
always looking for creative ways to maximize value for our shareholders.
We intend to re-deploy proceeds from this successful two-part sale to
fund prudent, long-term growth, including the acquisition of
higher-yielding opportunities."

Buildings 1-5 and 7 of Peninsula Office Park total 447,739 square feet,
and, as of the end of the first quarter of this year, were 83% occupied.
Hudson Pacific sold the fully vacant 63,050-square-foot Building 6 in
January of this year for a total of $22.5 million before prorations,
credits and closing costs.

Net proceeds from the sale were used to repay amounts outstanding on the
company's revolving credit facility, with the remainder held for general
corporate purposes.

Additional details about the sale of Peninsula Office Park, including
its impact on full-year 2018 FFO guidance, will be provided in
connection with the company's second quarter earnings call on August 1,

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 studio 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 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 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

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, which
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,
2017 filed with the Securities and Exchange Commission, or SEC, on
February 16, 2018, and other risks described in documents subsequently
filed by the company from time to time with the SEC.

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