Hudson Pacific Sells Element LA for $231M, Revises Q4 FFO Outlook To

Hudson Pacific sells Element LA for $231M, revises Q4 FFO outlook to

Hudson Pacific Properties (HPP) has successfully divested the Element LA office campus in West Los Angeles, securing a total of $231 million in gross proceeds.  The $150 million property sale, coupled with an $81 million payment

Hudson Pacific Divests Element LA Campus for $231M

Hudson Pacific Properties, Inc. has sold Element LA, a 284,000-square-foot office campus located in West Los Angeles. The REIT sold the property for $150 million and received a separate $81-million payment for terminating the existing lease. CoStar Group identified the buyer as Riot Games, the campus’ longtime tenant. Hudson Pacific used proceeds from the sale of the property and the termination of the lease, totaling $231 million, to repay $206…

Hudson Pacific offloads Sawtelle office campus in $231M deal

An unnamed buyer is the new owner of the Element L.A. office campus after a sale from developer Hudson Pacific Properties.

Hudson Pacific Properties Slashes Q4 Outlook After Major Asset Sale

Hudson Pacific Properties lowered its fourth-quarter earnings forecast as the real estate investment trust grapples with falling occupancy and the offloading of a key Los Angeles office property—the latest setback for a company mired in nearly three years of consecutive quarterly losses. The REIT now expects funds from operations between $0.15 and $0.25 per diluted share for the quarter, according to an update released Wednesday. Adjusted for th…

Hudson Pacific Sells Element LA Office Campus

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 sale of Element LA, a 284,000-square-foot office campus located in West Los... L'articolo Hudson Pacific Sells Element LA Office Campus è un contenuto originale di 01net.