Hudson Pacific Sells 875 and 899 Howard in San Francisco

Brings third quarter dispositions to $90.5 million; HPP secured office entitlements at 899 Howard ahead of sale

LOS ANGELES--(BUSINESS WIRE)-- Hudson Pacific Properties, Inc. (NYSE: HPP), an office REIT focused on top-tier real estate across high-barrier-to-entry West Coast gateway markets and preeminent studios in Los Angeles and New York, today announced it has completed the sale of 875 and 899 Howard, two downtown San Francisco properties totaling approximately 284,000 square feet, for $65.5 million before prorations and closing costs.

875 Howard is an approximately 188,000-square-foot office building that was 36% occupied at the time of sale, with its remaining major lease expiring next year. 899 Howard, an approximately 96,000-square-foot former retail building, was fully vacant. Hudson Pacific secured entitlements to convert two floors of 899 Howard to office use before the sale, enhancing its appeal to buyers.

Together with the previously announced sale of 2001 Gateway in North San Jose, Hudson Pacific has completed $90.5 million of asset sales in the third quarter. The company intends to use net proceeds for general corporate purposes.

"The sale of 875 and 899 Howard reflects our disciplined approach to recycling capital out of non-core assets," said Victor Coleman, Chairman and CEO of Hudson Pacific. "Our team's deep understanding of San Francisco's growing office demand guided the repositioning of 899 Howard, and the sale eliminates significant capital and re-leasing risk while enhancing our financial flexibility. We will continue executing our disposition program and driving lease-up across our portfolio."

About Hudson Pacific Properties

Hudson Pacific Properties, Inc. (NYSE: HPP) owns, operates, develops and redevelops top-tier office real estate across high-barrier-to-entry West Coast gateway markets, including the San Francisco Bay Area, Los Angeles, Seattle and Vancouver. The company also owns a studio platform unique among publicly traded REITs, comprising one of the largest independent studio operations in Los Angeles, along with an additional studio in New York. Hudson Pacific's in-service portfolio of 45 properties includes approximately 12.6 million square feet of office space and approximately 1.7 million square feet of studio space, leased to investment-grade and blue-chip tenants in technology and media, balanced by legal, government, retail and financial and business services users. The company has been named GRESB's Global Sector Leader for U.S. office five years running and was one of the first REITs to achieve carbon neutrality across its operations, which it has maintained since 2020. For more information, visit HudsonPacificProperties.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the company's control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the company's Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the company from time to time with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260925774499/en/

Investor Contact
Laura Campbell
Executive Vice President, Investor Relations & Marketing
(310) 622-1702
[email protected]

Media Contact
Laura Murray
Vice President, Communications
(310) 622-1781
[email protected]

Source: Hudson Pacific Properties, Inc.

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