XML 67 R47.htm IDEA: XBRL DOCUMENT v3.3.1.900
Notes Payable - Summary of Outstanding Indebtedness (Details)
9 Months Ended 12 Months Ended
Nov. 17, 2015
Apr. 01, 2015
USD ($)
Sep. 23, 2014
Jun. 14, 2013
Sep. 30, 2015
Dec. 31, 2015
USD ($)
derivative
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Nov. 16, 2015
USD ($)
May. 01, 2015
USD ($)
Aug. 22, 2013
USD ($)
Aug. 21, 2013
USD ($)
Jul. 31, 2013
USD ($)
Jan. 11, 2012
USD ($)
Mar. 16, 2011
USD ($)
Feb. 11, 2011
USD ($)
Debt                                
Long-term debt           $ 2,278,445,000 $ 915,003,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           (17,729,000) (2,320,000)                  
Assumption of secured debt in connection with property acquisitions           0 0 $ 102,299,000                
Duration used in interest rate calculation         360 days                      
Hudson Pacific Partners, L.P.                                
Debt                                
Assumption of secured debt in connection with property acquisitions           0 0 $ 102,299,000                
Interest Rate Contract                                
Debt                                
Derivative asset notional amount   $ 300,000,000.0               $ 300,000,000            
Interest Rate Caps | Designated as Hedging Instrument                                
Debt                                
Notional amount           $ 92,000,000                    
Number of derivative instruments held | derivative           2                    
Unsecured Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum                                
Debt                                
Line of credit facility, basis spread on variable rate [1]           1.15%                    
Unsecured Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum                                
Debt                                
Line of credit facility, basis spread on variable rate [1]           1.85%                    
5-Year Term Loan due April 2020 | London Interbank Offered Rate (LIBOR) | Minimum                                
Debt                                
Line of credit facility, basis spread on variable rate [1]           1.30%                    
5-Year Term Loan due April 2020 | London Interbank Offered Rate (LIBOR) | Maximum                                
Debt                                
Line of credit facility, basis spread on variable rate [1]           2.20%                    
5-Year Term Loan due November 2020 | London Interbank Offered Rate (LIBOR) | Minimum                                
Debt                                
Line of credit facility, basis spread on variable rate [1]           1.30%                    
5-Year Term Loan due November 2020 | London Interbank Offered Rate (LIBOR) | Maximum                                
Debt                                
Line of credit facility, basis spread on variable rate [1]           2.20%                    
7-Year Term Loan due April 2022 | London Interbank Offered Rate (LIBOR) | Minimum                                
Debt                                
Line of credit facility, basis spread on variable rate [1]           1.60%                    
7-Year Term Loan due April 2022 | London Interbank Offered Rate (LIBOR) | Maximum                                
Debt                                
Line of credit facility, basis spread on variable rate [1]           2.55%                    
7-Year Term Loan due November 2022 | London Interbank Offered Rate (LIBOR) | Minimum                                
Debt                                
Line of credit facility, basis spread on variable rate [1]           1.60%                    
7-Year Term Loan due November 2022 | London Interbank Offered Rate (LIBOR) | Maximum                                
Debt                                
Line of credit facility, basis spread on variable rate [1]           2.55%                    
Pinnacle II                                
Debt                                
Interest only term of loan       5 years                        
Periodic payment, debt service payment term       30 years                        
Sunset Gower Sunset Bronson                                
Debt                                
Long-term debt                     $ 97,000,000 $ 92,000,000       $ 92,000,000
Sunset Gower Sunset Bronson | Interest Rate Caps                                
Debt                                
Interest rate cap                           4.25% 5.97%  
Notional amount                           $ 42,000,000 $ 50,000,000  
Met Park North                                
Debt                                
Long-term debt                         $ 64,500,000      
Fixed interest rate percentage           3.71%                    
Unsecured Debt                                
Debt                                
Long-term debt           $ 1,555,000,000 280,000,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           (12,125,000) (870,000)                  
Unsecured Debt | Unsecured Revolving Credit Facility                                
Debt                                
Long-term debt           230,000,000 130,000,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           0 0                  
Unsecured Debt | Unsecured Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum                                
Debt                                
Line of credit facility, basis spread on variable rate   1.15% 1.15%                          
Unsecured Debt | Unsecured Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum                                
Debt                                
Line of credit facility, basis spread on variable rate   1.85% 1.55%                          
Unsecured Debt | 5-Year Term Loan due April 2020                                
Debt                                
Long-term debt           550,000,000 150,000,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           (5,571,000) (870,000)                  
Unsecured Debt | 5-Year Term Loan due November 2020                                
Debt                                
Long-term debt           0 0                  
Unamortized Loan Premium and Deferred Financing Costs, net           0 0                  
Unsecured Debt | 5-Year Term Loan due November 2020 | London Interbank Offered Rate (LIBOR) | Minimum | Hudson Pacific Partners, L.P.                                
Debt                                
Line of credit facility, basis spread on variable rate 1.30%   1.30%                          
Unsecured Debt | 5-Year Term Loan due November 2020 | London Interbank Offered Rate (LIBOR) | Maximum | Hudson Pacific Partners, L.P.                                
Debt                                
Line of credit facility, basis spread on variable rate 2.20%   1.90%                          
Unsecured Debt | 7-Year Term Loan due April 2022                                
Debt                                
Long-term debt           350,000,000 0                  
Unamortized Loan Premium and Deferred Financing Costs, net           (2,656,000) 0                  
Unsecured Debt | 7-Year Term Loan due November 2022                                
Debt                                
Long-term debt           0 0                  
Unamortized Loan Premium and Deferred Financing Costs, net           0 0                  
Unsecured Debt | 7-Year Term Loan due November 2022 | London Interbank Offered Rate (LIBOR) | Minimum | Hudson Pacific Partners, L.P.                                
Debt                                
Line of credit facility, basis spread on variable rate 1.60%                              
Unsecured Debt | 7-Year Term Loan due November 2022 | London Interbank Offered Rate (LIBOR) | Maximum | Hudson Pacific Partners, L.P.                                
Debt                                
Line of credit facility, basis spread on variable rate 2.55%                              
Unsecured Debt | Series A Notes                                
Debt                                
Long-term debt             0   $ 110,000,000              
Unamortized Loan Premium and Deferred Financing Costs, net           $ (1,011,000) 0                  
Interest Rate           4.34%                    
Unsecured Debt | Series B Notes                                
Debt                                
Long-term debt             0   259,000,000              
Unamortized Loan Premium and Deferred Financing Costs, net           $ (2,378,000) 0                  
Interest Rate           4.69%                    
Unsecured Debt | Series C Notes                                
Debt                                
Long-term debt             0   $ 56,000,000              
Unamortized Loan Premium and Deferred Financing Costs, net           $ (509,000) 0                  
Interest Rate           4.79%                    
Unsecured Debt | Five Year Term Loan Facility 2015 | London Interbank Offered Rate (LIBOR) | Minimum | Leverage Ratio Threshold | Hudson Pacific Partners, L.P.                                
Debt                                
Fixed interest rate percentage                   2.66%            
Unsecured Debt | Five Year Term Loan Facility 2015 | London Interbank Offered Rate (LIBOR) | Maximum | Leverage Ratio Threshold | Hudson Pacific Partners, L.P.                                
Debt                                
Fixed interest rate percentage                   3.56%            
Unsecured Debt | Seven Year Term Loan Facility 2015 | London Interbank Offered Rate (LIBOR) | Minimum | Leverage Ratio Threshold | Hudson Pacific Partners, L.P.                                
Debt                                
Fixed interest rate percentage                   3.21%            
Unsecured Debt | Seven Year Term Loan Facility 2015 | London Interbank Offered Rate (LIBOR) | Maximum | Leverage Ratio Threshold | Hudson Pacific Partners, L.P.                                
Debt                                
Fixed interest rate percentage                   4.16%            
Secured Debt                                
Debt                                
Long-term debt           $ 723,445,000 635,003,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           $ (5,604,000) (1,450,000)                  
Secured Debt | Disposal Group, Not Discontinued Operations | First Financial                                
Debt                                
Unamortized Loan Premium and Deferred Financing Costs, net             (369,000)                  
Interest Rate           4.58%                    
Assumption of secured debt in connection with property acquisitions             42,449,000                  
Secured Debt | Pinnacle II                                
Debt                                
Long-term debt [2]           $ 86,228,000 87,421,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           $ 1,310,000 3,056,000                  
Interest Rate [1],[2]           6.313%                    
Secured Debt | 901 Market                                
Debt                                
Long-term debt           $ 30,000,000 49,600,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           $ (119,000) (434,000)                  
Secured Debt | 901 Market | London Interbank Offered Rate (LIBOR)                                
Debt                                
Line of credit facility, basis spread on variable rate [1],[3]           2.25%                    
Secured Debt | Rincon Center                                
Debt                                
Long-term debt [4]           $ 102,309,000 104,126,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           $ (355,000) (518,000)                  
Interest Rate [1],[4]           5.134%                    
Secured Debt | Sunset Gower Sunset Bronson                                
Debt                                
Long-term debt           $ 115,001,000 97,000,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           $ (2,232,000) (678,000)                  
Extension period           1 year                    
Secured Debt | Sunset Gower Sunset Bronson | London Interbank Offered Rate (LIBOR)                                
Debt                                
Line of credit facility, basis spread on variable rate [1],[5]           2.25%                    
Secured Debt | Met Park North                                
Debt                                
Long-term debt [6]           $ 64,500,000 64,500,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           $ (509,000) (521,000)                  
Secured Debt | Met Park North | London Interbank Offered Rate (LIBOR)                                
Debt                                
Line of credit facility, basis spread on variable rate [1],[6]           1.55%                    
Secured Debt | 10950 Washington                                
Debt                                
Long-term debt           $ 28,407,000 28,866,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           $ (421,000) (493,000)                  
Interest Rate [1]           5.316%                    
Secured Debt | Pinnacle I                                
Debt                                
Long-term debt           $ 129,000,000 129,000,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           $ (694,000) (796,000)                  
Interest Rate [1]           3.954%                    
Secured Debt | Element LA                                
Debt                                
Long-term debt           $ 168,000,000 59,490,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           $ (2,584,000) (1,066,000)                  
Interest Rate [1]           4.59%                    
Secured Debt | 275 Brannan Street                                
Debt                                
Long-term debt           $ 0 15,000,000                  
Unamortized Loan Premium and Deferred Financing Costs, net           $ 0 $ 0                  
Secured Debt | 275 Brannan Street | London Interbank Offered Rate (LIBOR)                                
Debt                                
Line of credit facility, basis spread on variable rate [1]           2.00%                    
[1] 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 are as of December 31, 2015, which may be different than the interest rates as of December 31, 2014 for corresponding indebtedness.
[2] This loan bore interest only for the first five years. Beginning with the payment due October 6, 2011, monthly debt service includes annual debt amortization payments based on a 30-year amortization schedule with a balloon payment at maturity.
[3] Represents unamortized amount of the non-cash mark-to-market adjustment.
[4] The maturity date may be extended once for an additional one-year term.
[5] Interest on $92.0 million of the outstanding loan balance has been effectively capped at 5.97% and 4.25% per annum on $50.0 million and $42.0 million, respectively, of the loan through the use of two interest rate caps through February 11, 2016. See Note 6 for details.
[6] This loan bears interest only for the first five years. Beginning with the payment due December 6, 2017, monthly debt service will include annual debt amortization payments based on a 30-year amortization schedule with a balloon payment at maturity.