Hudson Pacific Completes $285 Million Refinancing of 1918 Eighth in Seattle

All 2025 Debt Maturities Addressed

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for tech and media tenants, today announced the successful refinancing of the loan secured by 1918 Eighth, a 668,000-square foot Class A, 99%-leased office tower located in Seattle’s Denny Triangle.

The new five-year, interest-only loan carries a fixed rate of 6.16% and matures in August 2030. Hudson Pacific, which owns 55% of 1918 Eighth in a joint venture, used net proceeds to repay its share of the prior $314.3 million loan scheduled to mature in December 2025.

"This transaction, addressing the last of our 2025 debt maturities, once again highlights the quality of our portfolio and our team’s ability to execute in today’s selective credit environment," said Harout Diramerian, Hudson Pacific’s CFO. "Prudent financial management has transformed our balance sheet and positioned us well to support leasing efforts as the West Coast office and entertainment industry recoveries take hold."

Wells Fargo led the refinancing and Newmark acted as the broker.

About Hudson Pacific Properties

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. 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, 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 filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the company from time to time with the SEC.