XML 68 R54.htm IDEA: XBRL DOCUMENT v3.5.0.2
Derivative Instruments - Narrative (Details)
3 Months Ended 6 Months Ended 12 Months Ended
Nov. 17, 2015
USD ($)
Apr. 01, 2015
USD ($)
Mar. 04, 2015
USD ($)
Aug. 22, 2013
USD ($)
Jul. 31, 2013
USD ($)
Feb. 11, 2011
USD ($)
Jun. 30, 2016
USD ($)
derivative
Jun. 30, 2015
USD ($)
Jun. 30, 2016
USD ($)
derivative
Jun. 30, 2015
USD ($)
Dec. 31, 2015
USD ($)
derivative
Jul. 01, 2016
Jun. 01, 2016
May 03, 2016
USD ($)
May 01, 2015
USD ($)
Aug. 21, 2013
USD ($)
Jan. 11, 2012
USD ($)
Mar. 16, 2011
USD ($)
Derivative                                    
Number of derivative instruments held | derivative             2   2                  
Notes payable             $ 2,358,029,000   $ 2,358,029,000   $ 2,278,445,000              
Derivative assets             0   0   2,061,000              
Derivative liabilities             26,478,000   26,478,000   2,010,000              
Cash flow hedge adjustment                 8,900,000                  
Level 2                                    
Derivative                                    
Derivative assets             0   0   2,100,000              
Derivative liabilities             26,478,000   26,478,000   2,010,000              
Unsecured Debt                                    
Derivative                                    
Notes payable             1,775,000,000   1,775,000,000   1,555,000,000              
Hudson Pacific Partners L.P.                                    
Derivative                                    
Derivative assets             0   0   2,061,000              
Derivative liabilities             26,478,000   26,478,000   2,010,000              
Cash flow hedge adjustment                 (23,905,000)   2,597,000              
5 Year Term Loan Facility 2015 | Hudson Pacific Partners L.P. | Unsecured Debt                                    
Derivative                                    
Term of loan facility   5 years                                
New Credit Agreement - Term Loan | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Minimum                                    
Derivative                                    
Basis spread on variable rate   1.30%                                
New Credit Agreement - Term Loan | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Maximum                                    
Derivative                                    
Basis spread on variable rate   2.20%                                
7 Year Term Loan Facility 2015 | Hudson Pacific Partners L.P. | Unsecured Debt                                    
Derivative                                    
Term of loan facility   7 years                                
Face amount   $ 350,000,000                                
7-Year Term Loan due November 2022 | Unsecured Debt                                    
Derivative                                    
Notes payable             $ 125,000,000   $ 125,000,000   $ 0              
7-Year Term Loan due November 2022 | Unsecured Debt | LIBOR | Minimum                                    
Derivative                                    
Basis spread on variable rate                 1.60%                  
7-Year Term Loan due November 2022 | Unsecured Debt | LIBOR | Maximum                                    
Derivative                                    
Basis spread on variable rate                 2.55%                  
7-Year Term Loan due November 2022 | Hudson Pacific Partners L.P. | Unsecured Debt                                    
Derivative                                    
Term of loan facility 7 years               7 years                  
Face amount $ 125,000,000                                  
Sunset Gower Sunset Bronson                                    
Derivative                                    
Term of loan facility           5 years                        
Notes payable       $ 97,000,000   $ 92,000,000                   $ 92,000,000    
Increase in borrowing capacity     $ 160,000,000                              
Sunset Gower Sunset Bronson | LIBOR                                    
Derivative                                    
Basis spread on variable rate       2.25%   3.50%                        
Met Park North                                    
Derivative                                    
Term of loan facility         7 years                          
Adjusted interest rate             3.71%   3.71%                  
Notes payable         $ 64,500,000                          
Met Park North | LIBOR                                    
Derivative                                    
Basis spread on variable rate         1.55%                          
Interest Rate Cap | Sunset Gower Sunset Bronson                                    
Derivative                                    
Notional amount of interest rate cash flow hedge derivatives                                 $ 42,000,000 $ 50,000,000
Fixed interest rate                                 4.25% 5.97%
Interest Rate Cap | Sunset Gower Sunset Bronson | LIBOR                                    
Derivative                                    
Interest rate cap                                 2.00% 3.715%
Interest Rate Contract                                    
Derivative                                    
Notional amount   $ 300,000,000                         $ 300,000,000      
Interest Rate Contract | 5 Year Term Loan Facility 2015                                    
Derivative                                    
Fixed interest rate                             1.36%      
Interest Rate Contract | 7 Year Term Loan Facility 2015                                    
Derivative                                    
Fixed interest rate                             1.61%      
Unrealized loss on ineffective portion of derivative instruments             $ 400,000 $ 0 $ 2,500,000 $ 0                
Interest Rate Contract | 7-Year Term Loan due November 2022                                    
Derivative                                    
Notional amount                           $ 125,000,000        
Fixed interest rate                           1.43%        
Interest Rate Contract | Met Park North | LIBOR                                    
Derivative                                    
Interest rate cap         2.16%                          
Interest Rate Floor | Subsequent Event | 7-Year Term Loan due November 2022 | LIBOR                                    
Derivative                                    
Derivative, interest rate floor                       0.00%            
Designated as Hedging Instrument | Interest Rate Cap                                    
Derivative                                    
Number of derivative instruments held | derivative             6   6   2              
Notional amount of interest rate cash flow hedge derivatives             $ 839,500,000   $ 839,500,000   $ 92,000,000              
Designated as Hedging Instrument | Interest Rate Swap                                    
Derivative                                    
Number of derivative instruments held | derivative                     5              
Notional amount of interest rate cash flow hedge derivatives                     $ 714,500,000              
Leverage Ratio Threshold | 5 Year Term Loan Facility 2015 | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Minimum                                    
Derivative                                    
Adjusted interest rate                             2.66%      
Leverage Ratio Threshold | 5 Year Term Loan Facility 2015 | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Maximum                                    
Derivative                                    
Adjusted interest rate                             3.56%      
Leverage Ratio Threshold | 7 Year Term Loan Facility 2015 | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Minimum                                    
Derivative                                    
Adjusted interest rate                             3.21%      
Leverage Ratio Threshold | 7 Year Term Loan Facility 2015 | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Maximum                                    
Derivative                                    
Adjusted interest rate                             4.16%      
Leverage Ratio Threshold | 7-Year Term Loan due November 2022 | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Minimum                                    
Derivative                                    
Adjusted interest rate                         3.03%          
Leverage Ratio Threshold | 7-Year Term Loan due November 2022 | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Maximum                                    
Derivative                                    
Adjusted interest rate                         3.98%          
Leverage Ratio Threshold | Subsequent Event | 5 Year Term Loan Facility 2015 | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Minimum                                    
Derivative                                    
Adjusted interest rate                       2.75%            
Leverage Ratio Threshold | Subsequent Event | 5 Year Term Loan Facility 2015 | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Maximum                                    
Derivative                                    
Adjusted interest rate                       3.65%            
Leverage Ratio Threshold | Subsequent Event | 7 Year Term Loan Facility 2015 | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Minimum                                    
Derivative                                    
Adjusted interest rate                       3.36%            
Leverage Ratio Threshold | Subsequent Event | 7 Year Term Loan Facility 2015 | Hudson Pacific Partners L.P. | Unsecured Debt | LIBOR | Maximum                                    
Derivative                                    
Adjusted interest rate                       4.31%