Disciplined investing allows us to deliver for our shareholders


We acquire, operate, transform and build premier office and studio properties in West Coast epicenters for tech and media innovation. Our team of seasoned public company and real estate executives have an eye for opportunity, extensive relationships, deep market knowledge, and a nimbleness that enables us to better assess risk and quickly capitalize on market shifts. We deploy capital with discipline, often focusing on less-capital-intensive, shorter-time-to-market core-plus and value-add investments with the potential to produce outsized returns. This includes the redevelopment and development of sites part of existing operating assets, as opposed to land banking. We are at the forefront of reimagining outdated real estate to deliver marquee, creative workplaces where the most forward-thinking companies and their employees can thrive—today and in the future.

Quarterly Results
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Consistent Track Record of Delivering Outsized Growth
$8.1B Total Market Cap: 1200%+ Growth Since 2010 IPO
72% FFO per Share Growth from FY 2011 to FY 2018

Class A Office and Studio Properties in West Coast Innovation Hubs
18.8M SF in Select Los Angeles, Silicon Valley, San Francisco, Seattle, Vancouver Submarkets
Largest Public Owner/Operator of Office Properties in Silicon Valley

Ideally Positioned to Capitalize on Rapid Media Production Growth
Largest U.S. Owner/Operator of Independent Studios
3 Studios, 36 Stages, 1.3M SF of Existing/Under Construction Studio-Adjacent Class A Office
840K+ SF of Studio-Adjacent Future Development Opportunities

Unique Exposure to High-Growth, Leading Companies in Tech and Media
55% Office ABR Attributable to Tech and/or Media Companies
Top Tenants: Google, Netflix, Square, Uber, Riot Games
85% of Tech ABR from Public or Private 10+ Year-Old Companies

Prudent Capital Allocation & Balance Sheet Management
35% Company’s Share Debt/Company’s Share Market Cap, 6% Floating Rate Debt, 85% Unsecured Debt
Investment Grade Credit Rated: Moody’s (Baa2), S&P (BBB-), Fitch (BBB-)

All data as of 9/30/19 with further details available in the 9/30/19 Investor Presentation and the 5/23/18 Analyst & Investor Day Presentation.

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