XML 59 R39.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Accounting Policies [Abstract] |
Schedule of Variable Interest Entities | As of December 31, 2021, the operating partnership has determined that 12 of its joint ventures met the definition of a VIE and are consolidated:
Entity | Property | Ownership Interest
Hudson 1455 Market, L.P. | 1455 Market | 55.0 | %
Hudson 1099 Stewart, L.P. | Hill7 | 55.0 | %
HPP-MAC WSP, LLC | One Westside and 10850 Pico | 75.0 | %
Hudson One Ferry REIT, L.P. | Ferry Building | 55.0 | %
Sunset Bronson Entertainment Properties, LLC | Sunset Bronson Studios, ICON, CUE | 51.0 | %
Sunset Gower Entertainment Properties, LLC | Sunset Gower Studios | 51.0 | %
Sunset Las Palmas Entertainment Properties, LLC | Sunset Las Palmas Studios, Harlow | 51.0 | %
Sunset Services Holdings, LLC | None(1) | 51.0 | %
Sunset Studios Holdings, LLC | EPIC | 51.0 | %
Hudson Media and Entertainment Management, LLC | None(2) | 51.0 | %
Hudson 6040 Sunset, LLC | 6040 Sunset | 51.0 | %
Hudson 1918 Eighth, L.P. | 1918 Eighth | 55.0 | %
__________________ 1.Sunset Services Holdings, LLC wholly owns Services Holdings, LLC, which owns 100% interests in Sunset Bronson Services, LLC, Sunset Gower Services, LLC and Sunset Las Palmas Services, LLC, which provide services to the respective entertainment properties above. 2.Hudson Media and Entertainment Management, LLC manages the following properties: Sunset Gower Studios, Sunset Bronson Studios, Sunset Las Palmas Studios, 6040 Sunset, ICON, CUE, EPIC and Harlow (collectively “Hollywood Media Portfolio”).
Schedule of Costs Capitalized | The Company recognized the following capitalized costs associated with development and redevelopment activities:
|  | Year Ended December 31,
|  | 2021 |  | 2020 |  | 2019
Capitalized personnel costs |  | $ | 16,728 |  |  | $ | 15,843 |  |  | $ | 9,218 |
Capitalized interest |  | $ | 22,595 |  |  | $ | 19,509 |  |  | $ | 16,258 |
Property, Plant and Equipment Net | The Company computes depreciation and amortization using the straight-line method over the estimated useful lives of the assets as represented in the table below:
Asset Description |  | Estimated Useful Life (Years)
Building and improvements |  | Shorter of the ground lease term or 39
Land improvements |  | 15
Furniture and fixtures |  | 5 to 7
Tenant improvements |  | Shorter of the estimated useful life or the lease term
The following table summarizes the Company’s non-real estate property, plant and equipment, net as of:
| December 31, 2021 |  | December 31, 2020
Trailers | $ | 35,181 |  |  | $ | — |
Leasehold improvements | 15,267 |  |  | 14,046 |
Trucks and other vehicles | 12,204 |  |  | — |
Furniture, fixtures and equipment | 4,592 |  |  | 3,331 |
Other equipment | 4,605 |  |  | — |
Non-real estate property, plant and equipment, at cost | 71,849 |  |  | 17,377 |
Accumulated depreciation | (13,380) |  |  | (8,933) |
NON-REAL ESTATE PROPERTY, PLANT AND EQUIPMENT, NET | $ | 58,469 |  |  | $ | 8,444 |
Schedule of Cash and Cash Equivalents | The following table provides a reconciliation of cash and cash equivalents and restricted cash at the beginning and end of the periods presented:
|  | December 31,
|  | 2021 |  | 2020 |  | 2019
BEGINNING OF THE PERIOD |  |  |  |  |  |
Cash and cash equivalents |  | $ | 113,686 |  |  | $ | 46,224 |  |  | $ | 53,740 |
Restricted cash |  | 35,854 |  |  | 12,034 |  |  | 14,451 |
TOTAL |  | $ | 149,540 |  |  | $ | 58,258 |  |  | $ | 68,191 |
END OF THE PERIOD |  |  |  |  |  |
Cash and cash equivalents |  | $ | 96,555 |  |  | $ | 113,686 |  |  | $ | 46,224 |
Restricted cash |  | 100,321 |  |  | 35,854 |  |  | 12,034 |
TOTAL |  | $ | 196,876 |  |  | $ | 149,540 |  |  | $ | 58,258 |
Schedule of Restricted Cash and Cash Equivalents | The following table provides a reconciliation of cash and cash equivalents and restricted cash at the beginning and end of the periods presented:
|  | December 31,
|  | 2021 |  | 2020 |  | 2019
BEGINNING OF THE PERIOD |  |  |  |  |  |
Cash and cash equivalents |  | $ | 113,686 |  |  | $ | 46,224 |  |  | $ | 53,740 |
Restricted cash |  | 35,854 |  |  | 12,034 |  |  | 14,451 |
TOTAL |  | $ | 149,540 |  |  | $ | 58,258 |  |  | $ | 68,191 |
END OF THE PERIOD |  |  |  |  |  |
Cash and cash equivalents |  | $ | 96,555 |  |  | $ | 113,686 |  |  | $ | 46,224 |
Restricted cash |  | 100,321 |  |  | 35,854 |  |  | 12,034 |
TOTAL |  | $ | 196,876 |  |  | $ | 149,540 |  |  | $ | 58,258 |
Schedule of Prepaid Expenses and Other Assets, Net | The following table represents the Company’s prepaid expenses and other assets, net as of:
|  | December 31, 2021 |  | December 31, 2020
Interest rate cap derivative asset |  | $ | 368 |  |  | $ | 5 |
Non-real estate investments |  | 31,447 |  |  | 4,088 |
Stock purchase warrant |  | 1,664 |  |  | — |
Deposits and pre-development costs for future acquisitions |  | 47,605 |  |  | 28,488 |
Deferred financing costs, net |  | 7,750 |  |  | 1,216 |
Prepaid insurance |  | 5,442 |  |  | 5,100 |
Prepaid property tax |  | 2,192 |  |  | 2,138 |
Inventory |  | 1,578 |  |  | — |
Other |  | 20,954 |  |  | 14,434 |
PREPAID EXPENSES AND OTHER ASSETS, NET |  | $ | 119,000 |  |  | $ | 55,469 |
Schedule of Revenue Streams |
Revenue Stream |  | Components |  | Financial Statement Location
Rental revenues |  | Office, stage and storage rentals |  | Office and studio segments: rental
Tenant recoveries and other tenant-related revenues |  | Reimbursement of real estate taxes, insurance, repairs and maintenance, other operating expenses and must-take parking revenues |  | Office segment: rental Studio segment: rental and service revenues and other
Ancillary revenues |  | Revenues derived from tenants’ use of power, HVAC and telecommunications (i.e., telephone and internet) and lighting, equipment and vehicle rentals |  | Studio segment: service revenues and other
Other revenues |  | Parking revenue that is not associated with lease agreements and other |  | Office and studio segments: service revenues and other
Sale of real estate |  | Gains on sales derived from cash consideration less cost basis |  | Gains on sale of real estate
Management fee income |  | Income derived from management services provided to unconsolidated joint venture entities |  | Fee income
Management services reimbursement income |  | Reimbursement of costs incurred by the Company in the management of unconsolidated joint venture entities |  | Management services reimbursement income—unconsolidated real estate entities
The following table summarizes the Company’s revenue streams that are accounted for under ASC 606:
|  | Year Ended December 31,
|  | 2021 |  | 2020 |  | 2019
Ancillary revenues |  | $ | 46,984 |  |  | $ | 16,781 |  |  | $ | 27,951 |
Other revenues |  | $ | 15,168 |  |  | $ | 16,582 |  |  | $ | 28,066 |
Studio-related tenant recoveries |  | $ | 1,962 |  |  | $ | 1,560 |  |  | $ | 2,261 |
Management fee income |  | $ | 3,221 |  |  | $ | 2,815 |  |  | $ | 1,459 |
Management services reimbursement income |  | $ | 1,132 |  |  | $ | — |  |  | $ | — |
The following table summarizes the Company’s receivables that are accounted for under ASC 606:
|  | December 31, 2021 |  | December 31, 2020
Ancillary revenues |  | $ | 7,381 |  |  | $ | 1,700 |
Other revenues |  | $ | 1,078 |  |  | $ | 1,058 |
Studio-related tenant recoveries |  | $ | — |  |  | $ | — |

X
- Definition Schedule Of Costs Capitalized [Table Text Block] + References No definition available. + Details
Name: | hpp_ScheduleOfCostsCapitalizedTableTextBlock
Namespace Prefix: | hpp_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of cash and cash equivalents. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
Name: | us-gaap_ScheduleOfOtherAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123431023&loc=SL98516268-108586 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=123419778&loc=SL6759159-111685 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5747-111685 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123419778&loc=SL6228884-111685 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5728-111685 + Details
Name: | us-gaap_ScheduleOfVariableInterestEntitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration