secwatch.observer — SEC 8-K summary
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Issuer:     Hudson Pacific Properties, Inc. (HPP)
CIK:        0001482512
Form:       8-K
Filed at:   2024-01-03T23:59:59+00:00
Accession:  0001482512-24-000006
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hudson Pacific/Macerich sell One Westside/Westside Two for $700M to UC
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- Gross sale price $700M; Hudson Pacific (75% JV interest) repaid $324.6M construction loan.
- Net proceeds used to pay down unsecured revolving credit facility; no debt maturities until year-end 2025.
- Pro forma net debt to undepreciated book value improved to 35% from 39% as of Sep 30, 2023.
- Buyer is The Regents of the University of California; total property ~687,000 sq ft.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1482512/000148251224000006/0001482512-24-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1482512/000148251224000006/hpp-20231227.htm
  HTML page:      https://secwatch.observer/filing/0001482512-24-000006

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer