Hudson Pacific Properties is a real estate investment trust with 15.8 million square feet of office buildings, 1.5 million square feet of sound stages, and undeveloped rights for 3 million square feet of additional commercial property.[1]: 46 Its properties are on the West Coast of the United States and Vancouver.[1] It is organized in Maryland and headquartered in Los Angeles.[1] It is the largest independent operator of sound stages in Los Angeles.[2][3]
History
The company was founded as Hudson Capital by Victor J. Coleman.[3] In 2007, Hudson Capital purchased Sunset Gower Studios and in 2008 purchased Sunset Bronson Studios.[4] Hudson Capital was reformed as Hudson Pacific Properties in 2009[3][1] and on June 29, 2010, the company became a public company via an initial public offering.[1]
In December 2014, the company acquired 26 properties in Northern California from The Blackstone Group's EQ Office for $3.5 billion.[5] This made Hudson Pacific the largest publicly traded owner-operator of office space in Silicon Valley.[6] In 2017 the company bought Sunset Las Palmas Studios.[4]
In March 2019, in a joint venture with funds managed by The Blackstone Group, the company acquired Bentall Centre, Vancouver.[7]
In June 2020, funds managed by The Blackstone Group acquired a 49% stake in several properties owned by the company.[8][9]
References
- ^ a b c d e f "Hudson Pacific Properties, Inc. 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 18, 2022. pp. 14, F-13, F-14.
- ^ "L.A.'s Film and TV Production Boom Fuels Real Estate Grab". The Hollywood Reporter. December 19, 2018.
- ^ a b c Madans, Hannah (July 6, 2020). "Hudson Pacific Founder Coleman Continues to Make His Mark". Los Angeles Business Journal.
- ^ a b Vincent, Roger (June 29, 2020). "Hudson Pacific sells share of Hollywood studios to Blackstone". Los Angeles Times.
- ^ Karmin, Craig (December 7, 2014). "Blackstone to Sell California Buildings for $3.5 Billion". The Wall Street Journal.
- ^ Donato-Weinstein, Nathan (December 8, 2014). "Meet Hudson Pacific Properties, Silicon Valley's new office giant". American City Business Journals.
- ^ Stiles, Marc (March 27, 2019). "Hudson Pacific, Blackstone join forces to go into Vancouver, BC, market". American City Business Journals.
- ^ CORNFIELD, GREG (June 29, 2020). "Blackstone Acquires Stake in Hudson's $1.7B LA Film Studio Portfolio". Observer Media.
- ^ Baltic, Scott (June 30, 2020). "Blackstone Takes Co-Starring Role in $1.7B Hollywood Portfolio". Commercial Property Executive.
External links
- Business data for Hudson Pacific Properties, Inc.: