Hudson Pacific Properties launches $600M common stock offering to repay debt; $300M interest from Cohen & Steers

Hudson Pacific Properties, Inc.

$600M underwritten offering of common stock and pre-funded warrants; underwriters have 30-day option for additional $90M.
Cohen & Steers indicates $300M interest; proceeds to repay revolving credit facility and other debt.
Q1 2025 leasing activity highest since Q2 2022: ~630k sq ft, 66% new leases; tours up 18% QoQ.
Target additional $9-10M annual G&A savings; 2025 G&A outlook reduced to $58-63M; board fees cut 30%.
Sold 625 Second Street for ~$25M; repaid Series B/C/D notes; refinancing 1918 Eighth property (Dec 2025 maturity).

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