Transaction marks the company’s entry into Beverly Hills

LOS ANGELES--(BUSINESS WIRE)-- Hudson Pacific Properties, Inc. (NYSE:HPP) has acquired the leasehold interest in the six-story, 58,484-square-foot 9300 Wilshire office building in Beverly Hills, Calif. for $15.0 million in an all cash transaction.

“Our team has extensive, previous experience owning and operating office buildings in Beverly Hills,” said Howard S. Stern, president, Hudson Pacific Properties. “Beverly Hills is a market that meets our acquisition investment criteria and 9300 Wilshire is a solid addition to our overall office portfolio. It is a stabilized asset in a highly-desirable market.”

Located at the prominent intersection of Wilshire Boulevard and Rexford Drive in the heart of Beverly Hills, the building is approximately 93 percent leased to a diverse mix of stable businesses including professional service firms, finance and media and entertainment companies.

Bob Safai of Madison Partners represented the seller, 9300 Wilshire Building LLC, in the transaction.

About Hudson Pacific Properties

Hudson Pacific Properties, Inc. is a full-service, vertically-integrated commercial real estate company. The company's primary areas of focus are the acquisition and ownership of high-quality office properties and state-of-the art media and entertainment properties in select growth markets primarily in Northern and Southern California. Hudson Pacific Properties’ investment strategy is to target high barrier-to-entry, in-fill locations with favorable, long-term supply-demand characteristics. Its portfolio of approximately two million square feet is strategically located in the company’s target markets that include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay. For additional information visit www.hudsonpacificproperties.com

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Source: Hudson Pacific Properties, Inc.

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