Hudson Pacific repays revolver with proceeds from land, debt sales

By Marisa Wong

Los Angeles, Dec. 4 – Hudson Pacific Properties, Inc. repaid amounts outstanding on its unsecured revolving credit facility using proceeds from a divestment, according to a press release.

Hudson Pacific completed two transactions for gross proceeds of $189.3 million before prorations and closing costs.

The company sold a land parcel in Silicon Valley for $43.5 million; and 100% of two tranches and 49% of a third tranche of debt associated with its Hollywood Media Portfolio, generating gross proceeds of $145.8 million.

The real estate investment trust is based in Los Angeles.

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