Hudson Pacific extends $1.1 billion Hollywood property loan

Hudson Pacific ($HPP) extended a $1.1 billion commercial mortgage-backed securities loan on its Hollywood Media Portfolio into late 2027. The company owns 51% of the joint venture holding the portfolio, which comprises approximately 2.2 million square feet across three studio properties and five office buildings.

The extension does not require an initial principal repayment and retains the existing interest terms, while introducing a $20 million leasing reserve and a sweep of excess cash. An interest-rate swap fixes the SOFR component at 3.5% through the extended maturity. The agreement provides additional time to manage the portfolio and its financing, but it is a maturity extension rather than debt forgiveness or a new equity investment in the properties.

Sources:

• Hudson Pacific — financing announcement, Business Wire