v2.3.0.11
Consolidated Balance Sheets (unaudited) (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
REAL ESTATE ASSETS    
Land $ 329,231 $ 329,231
Building and improvements 473,228 468,711
Tenant improvements 51,398 47,478
Furniture and fixtures 11,496 11,411
Property under development 3,529 7,904
Total real estate held for investment 868,882 864,735
Accumulated depreciation and amortization (39,598) (27,113)
Investment in real estate, net 829,284 837,622
Cash and cash equivalents 86,893 48,875
Restricted cash 8,184 4,121
Accounts receivable, net 11,386 4,478
Straight-line rent receivables 8,732 6,703
Deferred leasing costs and lease intangibles, net 77,031 86,385
Deferred finance costs, net 5,262 3,211
Interest rate contracts 631 0
Goodwill 8,754 8,754
Prepaid expenses and other assets 5,641 4,416
TOTAL ASSETS 1,041,798 1,004,565
LIABILITIES AND EQUITY    
Notes payable 275,002 342,060
Accounts payable and accrued liabilities 12,484 11,507
Below-market leases 19,082 20,983
Security deposits 5,443 5,052
Prepaid rent 12,666 10,559
Interest rate contracts 0 71
TOTAL LIABILITIES 324,677 390,232
Hudson Pacific Properties, Inc. stockholders’ equity:    
Preferred stock, $0.01 par value, 10,3000,000 authorized; 8.375% cumulative redeemable preferred stock, $25.00 liquidation preference, 3,500,000 shares outstanding at June 30, 2011 and December 31, 2010, respectively 87,500 87,500
Common Stock, $0.01 par value 490,000,000 authorized, 33,570,842 outstanding at June 30, 2011 and 22,436,950 outstanding at December 31, 2010 336 224
Additional paid-in capital 560,727 411,598
Accumulated other comprehensive (deficit) income (449) 6
Accumulated deficit (7,969) (3,482)
Total Hudson Pacific Properties, Inc. stockholders’ equity 640,145 495,846
Non-controlling unitholders in the Operating Partnership 64,501 65,684
TOTAL EQUITY 704,646 561,530
TOTAL LIABILITIES AND EQUITY 1,041,798 1,004,565
6.25% Series A Cumulative Redeemable Preferred Units of the Operating Partnership
   
LIABILITIES AND EQUITY    
Redeemable noncontrolling interest, equity, carrying amount 12,475 12,475
Redeemable Non-controlling Interest in Consolidated Real Estate Entity
   
LIABILITIES AND EQUITY    
Redeemable noncontrolling interest, equity, carrying amount $ 0 $ 40,328