XML 44 R2.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
REAL ESTATE ASSETS    
Land $ 1,399,207 $ 620,805
Building and improvements 4,103,152 1,284,602
Tenant improvements 272,779 116,317
Furniture and fixtures 9,952 13,721
Property under development 124,582 135,850
Total real estate held for investment 5,909,672 2,171,295
Accumulated depreciation and amortization (181,163) (134,657)
Investment in real estate, net 5,728,509 2,036,638
Cash and cash equivalents 40,327 17,753
Restricted cash 17,319 14,244
Accounts receivable, net 12,312 16,247
Notes receivable 28,476 28,268
Straight-line rent receivables 47,137 33,006
Deferred leasing costs and lease intangibles, net 381,370 102,023
Deferred finance costs, net 18,384 8,723
Interest rate contracts 8,689 3
Goodwill 8,754 8,754
Prepaid expenses and other assets 21,853 6,692
Assets associated with real estate held for sale 0 68,534
TOTAL ASSETS 6,313,130 2,340,885
LIABILITIES    
Notes payable 2,119,157 918,059
Accounts payable and accrued liabilities 75,205 36,844
Lease intangible liabilities, net 125,795 40,969
Security deposits 21,100 6,257
Prepaid rent 21,909 8,600
Interest rate contracts 1,766 1,750
Liabilities associated with real estate held for sale 275 43,214
TOTAL LIABILITIES 2,365,207 1,055,693
6.25% series A cumulative redeemable preferred units of the Operating Partnership 10,177 10,177
Hudson Pacific Properties, Inc. stockholders’ equity:    
Preferred stock, $0.01 par value, 10,000,000 authorized; 8.375% series B cumulative redeemable preferred stock, $25.00 liquidation preference, 5,800,000 shares outstanding at June 30, 2015 and December 31, 2014, respectively 145,000 145,000
Common stock, $0.01 par value, 490,000,000 authorized, 89,078,401 shares and 66,797,816 shares outstanding at June 30, 2015 and December 31, 2014, respectively 890 668
Additional paid-in capital 1,739,088 1,070,833
Accumulated other comprehensive income (loss) 2,856 (2,443)
Accumulated deficit (40,766) (34,884)
Total Hudson Pacific Properties, Inc. stockholders’ equity 1,847,068 1,179,174
Partners’ Capital:    
TOTAL EQUITY 3,937,746 1,275,015
TOTAL LIABILITIES AND EQUITY 6,313,130 2,340,885
Hudson Pacific Partners L.P.    
REAL ESTATE ASSETS    
Land 1,399,207 620,805
Building and improvements 4,103,152 1,284,602
Tenant improvements 272,779 116,317
Furniture and fixtures 9,952 13,721
Property under development 124,582 135,850
Total real estate held for investment 5,909,672 2,171,295
Accumulated depreciation and amortization (181,163) (134,657)
Investment in real estate, net 5,728,509 2,036,638
Cash and cash equivalents 40,327 17,753
Restricted cash 17,319 14,244
Accounts receivable, net 12,312 16,247
Notes receivable 28,476 28,268
Straight-line rent receivables 47,137 33,006
Deferred leasing costs and lease intangibles, net 381,370 102,023
Deferred finance costs, net 18,384 8,723
Interest rate contracts 8,689 3
Goodwill 8,754 8,754
Prepaid expenses and other assets 21,853 6,692
Assets associated with real estate held for sale 0 68,534
TOTAL ASSETS 6,313,130 2,340,885
LIABILITIES    
Notes payable 2,119,157 918,059
Accounts payable and accrued liabilities 75,205 36,844
Lease intangible liabilities, net 125,795 40,969
Security deposits 21,100 6,257
Prepaid rent 21,909 8,600
Interest rate contracts 1,766 1,750
Liabilities associated with real estate held for sale 275 43,214
TOTAL LIABILITIES 2,365,207 1,055,693
6.25% series A cumulative redeemable preferred units of the Operating Partnership 10,177 10,177
Partners’ Capital:    
8.375% series B cumulative redeemable preferred units, 5,800,000 units issued and outstanding at June 30, 2015 and December 31, 2014, respectively ($25.00 per unit liquidation preference.) 145,000 145,000
Common units, 145,374,716 and 69,180,379 issued and outstanding at June 30, 2015 and December 31, 2014, respectively 3,529,990 1,087,025
Total Hudson Pacific Properties, Inc. Capital 3,674,990 1,232,025
Non-controlling interest—members in Consolidated Entities 262,756 42,990
TOTAL CAPITAL 3,937,746 1,275,015
TOTAL EQUITY 3,937,746 1,275,015
TOTAL LIABILITIES AND EQUITY 6,313,130 2,340,885
Non-controlling interest—members in Consolidated Entities    
Partners’ Capital:    
Non-controlling interest—members in Consolidated Entities and Non-controlling units in the Operating Partnership 262,756 42,990
Non-controlling common units in the Operating Partnership    
Partners’ Capital:    
Non-controlling interest—members in Consolidated Entities and Non-controlling units in the Operating Partnership 1,827,922 52,851
TOTAL EQUITY $ 1,827,922 $ 52,851