XML 22 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
REAL ESTATE ASSETS    
Land $ 1,283,751 $ 620,805
Building and improvements 3,964,630 1,284,602
Tenant improvements 293,131 116,317
Furniture and fixtures 9,586 13,721
Property under development 218,438 135,850
Total real estate held for investment 5,769,536 2,171,295
Accumulated depreciation and amortization (269,074) (134,657)
Investment in real estate, net 5,500,462 2,036,638
Cash and cash equivalents 53,551 17,753
Restricted cash 18,010 14,244
Accounts receivable, net 21,159 16,247
Notes receivable 28,684 28,268
Straight-line rent receivables 59,636 33,006
Deferred leasing costs and lease intangible assets, net 318,031 102,023
Interest rate contracts 2,061 3
Goodwill 8,754 8,754
Prepaid expenses and other assets 27,292 10,039
Assets associated with real estate held for sale 216,395 68,165
TOTAL ASSETS 6,254,035 2,335,140
LIABILITIES AND EQUITY    
Notes payable, net 2,260,716 912,683
Accounts payable and accrued liabilities 84,048 36,844
Lease intangible liabilities, net 95,208 40,969
Security deposits 21,302 6,257
Prepaid rent 38,245 8,600
Interest rate contracts 2,010 1,750
Liabilities associated with real estate held for sale 13,292 42,845
TOTAL LIABILITIES 2,514,821 1,049,948
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 per unit liquidation preference, no outstanding shares at December 31, 2015, 5,800,000 shares outstanding at December 31, 2014. 0 145,000
Common stock, $0.01 par value, 490,000,000 authorized, 89,153,780 shares and 66,797,816 shares outstanding at December 31, 2015 and 2014, respectively. 891 668
Additional paid-in capital 1,710,979 1,070,833
Accumulated other comprehensive deficit (1,081) (2,443)
Accumulated deficit (44,955) (34,884)
Total Hudson Pacific Properties, Inc. stockholders’ equity 1,665,834 1,179,174
TOTAL EQUITY 3,729,037 1,275,015
Capital    
TOTAL LIABILITIES AND EQUITY 6,254,035 2,335,140
6.25% Series A Cumulative Redeemable Preferred Units of the Operating Partnership    
LIABILITIES AND EQUITY    
6.25% series A cumulative redeemable preferred units of the Operating Partnership 10,177 10,177
Non-controlling Interest—Members in Consolidated Entities    
Hudson Pacific Properties, Inc. stockholders’ equity:    
Non-controlling interest 262,625 42,990
Non-controlling Common Units in the Operating Partnership    
Hudson Pacific Properties, Inc. stockholders’ equity:    
Non-controlling interest 1,800,578 52,851
TOTAL EQUITY 1,800,578 52,851
Hudson Pacific Partners, L.P.    
REAL ESTATE ASSETS    
Land 1,283,751 620,805
Building and improvements 3,964,630 1,284,602
Tenant improvements 293,131 116,317
Furniture and fixtures 9,586 13,721
Property under development 218,438 135,850
Total real estate held for investment 5,769,536 2,171,295
Accumulated depreciation and amortization (269,074) (134,657)
Investment in real estate, net 5,500,462 2,036,638
Cash and cash equivalents 53,551 17,753
Restricted cash 18,010 14,244
Accounts receivable, net 21,159 16,247
Notes receivable 28,684 28,268
Straight-line rent receivables 59,636 33,006
Deferred leasing costs and lease intangible assets, net 318,031 102,023
Interest rate contracts 2,061 3
Goodwill 8,754 8,754
Prepaid expenses and other assets 27,292 10,039
Assets associated with real estate held for sale 216,395 68,165
TOTAL ASSETS 6,254,035 2,335,140
LIABILITIES AND EQUITY    
Notes payable, net 2,260,716 912,683
Accounts payable and accrued liabilities 84,048 36,844
Lease intangible liabilities, net 95,208 40,969
Security deposits 21,302 6,257
Prepaid rent 38,245 8,600
Interest rate contracts 2,010 1,750
Liabilities associated with real estate held for sale 13,292 42,845
TOTAL LIABILITIES 2,514,821 1,049,948
Hudson Pacific Properties, Inc. stockholders’ equity:    
TOTAL EQUITY 3,729,037 1,275,015
Capital    
8.375% series B cumulative redeemable preferred stock, $25.00 per unit liquidation preference, no outstanding shares at December 31, 2015, 5,800,000 shares outstanding at December 31, 2014. 0 145,000
Common units, 145,450,095 and 69,180,379 issued and outstanding at December 31, 2015 and 2014, respectively 3,466,412 1,087,025
Total Hudson Pacific Properties, L.P. Capital 3,466,412 1,232,025
Non-controlling interest—members in Consolidated Entities 262,625 42,990
TOTAL CAPITAL 3,729,037 1,275,015
TOTAL LIABILITIES AND EQUITY 6,254,035 2,335,140
Hudson Pacific Partners, L.P. | 6.25% Series A Cumulative Redeemable Preferred Units of the Operating Partnership    
LIABILITIES AND EQUITY    
6.25% series A cumulative redeemable preferred units of the Operating Partnership $ 10,177 $ 10,177