Hudson Pacific Properties

Hudson Pacific Properties is a real estate investment trust with 19 million square feet of primarily office buildings[2] and studio properties[3] on the West Coast of the United States and Vancouver.[1] It is organized in Maryland and headquartered in Los Angeles.[1] They are the largest independent operator of sound stages in Los Angeles.[4]

Hudson Pacific Properties, Inc.
TypePublic
Founded2009 (2009)
FounderVictor J. Coleman
HeadquartersLos Angeles, California, U.S.
Key people
 Victor J. Coleman, Chairman & CEO
Mark T. Lammas, CFO
Revenue US$818 million (2019)
US$55 million (2019)
Total assets US$7.466 billion (2019)
Total equity US$3.709 billion (2019)
Number of employees
347 (2019)
Websitehudsonpacificproperties.com
Footnotes / references
[1]

As of December 31, 2019, the 2 largest tenants of the company were Google and Netflix, which together accounted for 15.2% of revenues.[1]

In June 2020, Hudson claims to be the largest independent operator of sound stages in Los Angeles.[5]

History

The company was founded as Hudson Capital by Victor J. Coleman.[6] In 2007, Hudson Capital purchased Sunset Gower Studios and in 2008 purchased Sunset Bronson Studios.[7] Hudson Capital was reformed as Hudson Pacific Properties in 2009[6][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.[8] This caused Hudson Pacific to become the largest publicly traded owner-operator of office space in Silicon Valley.[9] In 2017 the company bought Sunset Las Palmas Studios.[7]

In March 2019, the company formed a joint venture with The Blackstone Group with the purchase of the Bentall Centre, in downtown Vancouver.[10] Later in the year Hudson Pacific finished construction on Epic, the first office tower in Los Angeles to include solar energy-generating technology in the building’s walls.[11] In January 2019, the company leased One Westside, formerly known as the Westside Pavilion mall, to Google for their Los Angeles offices.[12]

References
  1. "FORM 10-K". United States Securities And Exchange Commission. Retrieved July 16, 2020.
  2. "Hudson Pacific Founder Coleman Continues to Make His Mark". Los Angeles Business Journal. Retrieved July 16, 2020. In all, the company’s portfolio spans nearly 19 million square feet.
  3. "L.A.'s Film and TV Production Boom Fuels Real Estate Grab". The Hollywood Reporter. Retrieved July 16, 2020.
  4. "Blackstone Takes Co-Starring Role in $1.7B Hollywood Portfolio". Commercial Property Executive. Retrieved July 16, 2020. Hudson Pacific is the largest independent owner and operator of sound stages in Los Angeles.
  5. "Blackstone Acquires Stake in Hudson's $1.7B LA Film Studio Portfolio". Commercial Observer. 2020-06-29. Retrieved 2020-09-28.
  6. Madans, Hannah (2020-07-06). "Hudson Pacific Founder Coleman Continues to Make His Mark". Los Angeles Business Journal. Los Angeles Business Journal. Retrieved 2020-11-10.
  7. Vincent, Roger (2020-06-29). "Hudson Pacific sells share of Hollywood studios to Blackstone". Los Angeles Times. Retrieved 2020-11-10.
  8. Karmin, Craig (December 7, 2014). "Blackstone to Sell California Buildings for $3.5 Billion". The Wall Street Journal.
  9. Donato-Weinstein, Nathan (2014-12-08). "Meet Hudson Pacific Properties, Silicon Valley's new office giant". Silicon Valley Business Journal. Retrieved 2020-11-10.
  10. Stiles, Marc (March 27, 2019). "Hudson Pacific, Blackstone join forces to go into Vancouver, BC, market". American City Business Journals.
  11. Cowan, Jill (2019-12-02). "Why the Star of a Big Hollywood Development Is the Sun". The New York Times. ISSN 0362-4331. Retrieved 2020-11-10.
  12. "Google leases Westside Pavilion as former shopping mecca transforms into tech offices". Los Angeles Times. Retrieved January 14, 2021.
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