XML 33 R43.htm IDEA: XBRL DOCUMENT v3.2.0.727
Interest Rate Contracts - Narrative (Details) - USD ($)
6 Months Ended
Apr. 01, 2015
Mar. 04, 2015
Aug. 22, 2013
Jul. 31, 2013
Feb. 11, 2011
Jun. 30, 2015
May. 01, 2015
Dec. 31, 2014
Jan. 11, 2012
Mar. 16, 2011
Derivative                    
Debt instrument carrying amount           $ 2,116,974,000        
Derivative assets, disclosed as “Interest rate contracts”           8,689,000   $ 3,000    
Interest rate contracts           1,766,000   1,750,000    
Interest Rate Cap                    
Derivative                    
Notional amount of interest rate cash flow hedge derivatives           92,000,000        
Derivative assets, disclosed as “Interest rate contracts”           8,689,000   3,000    
Interest rate contracts           1,766,000   1,750,000    
Interest Rate Cap | Carrying Value                    
Derivative                    
Derivative assets, disclosed as “Interest rate contracts”           8,689,000   3,000    
Interest rate contracts           $ 1,766,000   1,750,000    
Interest Rate Swap                    
Derivative                    
Notional amount $ 300,000,000                  
7 Year Term Loan Facility 2015 | Interest Rate Swap                    
Derivative                    
Fixed interest rate             1.61%      
5 Year Term Loan Facility 2015 | Interest Rate Swap                    
Derivative                    
Fixed interest rate             1.36%      
Sunset Gower Sunset Bronson                    
Derivative                    
Term of loan facility         5 years          
Debt instrument carrying amount     $ 97,000,000   $ 92,000,000          
Interest rate cap                 2.00% 3.715%
Notional amount of interest rate cash flow hedge derivatives                 $ 42,000,000 $ 50,000,000
Increase in borrowing capacity   $ 160,000,000                
Sunset Gower Sunset Bronson | One-Month LIBOR                    
Derivative                    
Basis spread on variable rate     2.25%   3.50%          
Sunset Gower Sunset Bronson | Interest Rate Cap                    
Derivative                    
Notional amount of interest rate cash flow hedge derivatives                 $ 42,000,000.0 $ 50,000,000.0
Sunset Gower Sunset Bronson | Interest Rate Cap | One-Month LIBOR                    
Derivative                    
Interest rate cap                 2.00% 3.715%
Met Park North                    
Derivative                    
Term of loan facility       7 years            
Fixed interest rate           2.1644%        
Debt instrument carrying amount       $ 64,500,000            
Basis spread on variable rate           1.55%        
Met Park North | One-Month LIBOR                    
Derivative                    
Basis spread on variable rate       1.55%            
Met Park North | Interest Rate Swap | One-Month LIBOR                    
Derivative                    
Interest rate cap       2.1644%            
Unsecured Debt                    
Derivative                    
Debt instrument carrying amount           $ 1,495,000,000   280,000,000    
Unsecured Debt | New Credit Agreement - Term Loan                    
Derivative                    
Debt instrument carrying amount           550,000,000   0    
Unsecured Debt | 7 Year Term Loan Facility 2015                    
Derivative                    
Debt instrument carrying amount [1]           350,000,000   0    
Unsecured Debt | 5 Year Term Loan Facility 2015                    
Derivative                    
Debt instrument carrying amount [2]           550,000,000   150,000,000    
Hudson Pacific Partners L.P.                    
Derivative                    
Derivative assets, disclosed as “Interest rate contracts”           8,689,000   3,000    
Interest rate contracts           $ 1,766,000   $ 1,750,000    
Hudson Pacific Partners L.P. | Unsecured Debt | New Credit Agreement - Term Loan                    
Derivative                    
Face amount $ 550,000,000                  
Term of loan facility 2 years                  
Hudson Pacific Partners L.P. | Unsecured Debt | 7 Year Term Loan Facility 2015                    
Derivative                    
Face amount $ 350,000,000                  
Term of loan facility 7 years                  
Hudson Pacific Partners L.P. | Unsecured Debt | 5 Year Term Loan Facility 2015                    
Derivative                    
Face amount $ 550,000,000                  
Term of loan facility 5 years                  
Line Of Credit Facility, Amount Not Offset By Derivatives $ 250,000,000                  
Minimum | Unsecured Debt | New Credit Agreement - Term Loan | LIBOR                    
Derivative                    
Basis spread on variable rate [3]           1.30%        
Minimum | Unsecured Debt | 7 Year Term Loan Facility 2015 | LIBOR                    
Derivative                    
Basis spread on variable rate [1],[3]           1.60%        
Minimum | Unsecured Debt | 5 Year Term Loan Facility 2015 | LIBOR                    
Derivative                    
Basis spread on variable rate [2],[3]           1.30%        
Minimum | Hudson Pacific Partners L.P. | Unsecured Debt | New Credit Agreement - Term Loan | LIBOR                    
Derivative                    
Basis spread on variable rate 1.30%                  
Minimum | Hudson Pacific Partners L.P. | Unsecured Debt | 7 Year Term Loan Facility 2015 | LIBOR                    
Derivative                    
Basis spread on variable rate 1.60%                  
Minimum | Hudson Pacific Partners L.P. | Unsecured Debt | 5 Year Term Loan Facility 2015 | LIBOR                    
Derivative                    
Basis spread on variable rate 1.30%                  
Maximum | Unsecured Debt | New Credit Agreement - Term Loan | LIBOR                    
Derivative                    
Basis spread on variable rate [3]           2.20%        
Maximum | Unsecured Debt | 7 Year Term Loan Facility 2015 | LIBOR                    
Derivative                    
Basis spread on variable rate [1],[3]           2.55%        
Maximum | Unsecured Debt | 5 Year Term Loan Facility 2015 | LIBOR                    
Derivative                    
Basis spread on variable rate [2],[3]           2.20%        
Maximum | Hudson Pacific Partners L.P. | Unsecured Debt | New Credit Agreement - Term Loan | LIBOR                    
Derivative                    
Basis spread on variable rate 2.20%                  
Maximum | Hudson Pacific Partners L.P. | Unsecured Debt | 7 Year Term Loan Facility 2015 | LIBOR                    
Derivative                    
Basis spread on variable rate 2.55%                  
Maximum | Hudson Pacific Partners L.P. | Unsecured Debt | 5 Year Term Loan Facility 2015 | LIBOR                    
Derivative                    
Basis spread on variable rate 2.20%                  
[1] Effective as of May 1, 2015, the Company entered into an interest rate contract with respect to the entire $350.0 million 7-year term loan facility that swapped one-month LIBOR to a fixed rate of 1.61% through the loan’s maturity on April 1, 2022. As a result, this facility currently bears interest at a rate equal to 3.21% to 4.16% per annum depending on our leverage ratio.
[2] Effective as of May 1, 2015, the Company entered into an interest rate contract with respect to $300.0 million of the $550.0 million 5-year term loan facility that swapped one-month LIBOR to a fixed rate of 1.36% through the loan’s maturity on April 1, 2020. As a result, $300.0 million of this facility currently bears interest at a rate equal to 2.66% to 3.56% per annum depending on our leverage ratio.
[3] Interest rate with respect to indebtedness is calculated on the basis of a 360-day year for the actual days elapsed, excluding the amortization of loan fees and costs. Interest rates as of June 30, 2015, which may be different than the interest rates as of December 31, 2014 for corresponding indebtedness.