XML 21 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED BALANCE SHEETS L.P. - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Investment in real estate, at cost $ 8,178,529 $ 8,212,896
Accumulated depreciation and amortization (1,736,720) (1,728,437)
Investment in real estate, net 6,441,809 6,484,459
Non-real estate property, plant and equipment, net 119,750 118,783
Cash and cash equivalents 114,305 100,391
Restricted cash 19,267 18,765
Accounts receivable, net 23,980 24,609
Straight-line rent receivables, net 217,685 220,787
Deferred leasing costs and intangible assets, net 319,214 326,950
Operating lease right-of-use assets 370,056 376,306
Prepaid expenses and other assets, net 90,812 94,145
Investment in unconsolidated real estate entities 270,440 252,711
Goodwill 264,144 264,144
TOTAL ASSETS 8,251,462 8,282,050
Liabilities    
Accounts payable, accrued liabilities and other 203,194 203,736
Operating lease liabilities 383,993 389,210
Intangible liabilities, net 26,305 27,751
Security deposits, prepaid rent and other 87,047 88,734
Total liabilities 4,800,975 4,720,881
Commitments and contingencies (note 20)
Redeemable preferred units of the operating partnership 9,815 9,815
Redeemable non-controlling interest in consolidated real estate entities 52,108 57,182
Hudson Pacific Properties, L.P. partners’ capital    
Accumulated other comprehensive income (loss) 3,033 (187)
TOTAL LIABILITIES AND EQUITY 8,251,462 8,282,050
Unsecured and secured debt, net    
Liabilities    
Debt, net 4,034,300 3,945,314
Joint venture partner debt    
Liabilities    
Debt, net 66,136 66,136
Hudson Pacific Partners L.P.    
ASSETS    
Investment in real estate, at cost 8,178,529 8,212,896
Accumulated depreciation and amortization (1,736,720) (1,728,437)
Investment in real estate, net 6,441,809 6,484,459
Non-real estate property, plant and equipment, net 119,750 118,783
Cash and cash equivalents 114,305 100,391
Restricted cash 19,267 18,765
Accounts receivable, net 23,980 24,609
Straight-line rent receivables, net 217,685 220,787
Deferred leasing costs and intangible assets, net 319,214 326,950
Operating lease right-of-use assets 370,056 376,306
Prepaid expenses and other assets, net 90,812 94,145
Investment in unconsolidated real estate entities 270,440 252,711
Goodwill 264,144 264,144
TOTAL ASSETS 8,251,462 8,282,050
Liabilities    
Accounts payable, accrued liabilities and other 203,194 203,736
Operating lease liabilities 383,993 389,210
Intangible liabilities, net 26,305 27,751
Security deposits, prepaid rent and other 87,047 88,734
Total liabilities 4,800,975 4,720,881
Commitments and contingencies (note 20)
Redeemable preferred units of the operating partnership 9,815 9,815
Redeemable non-controlling interest in consolidated real estate entities 52,108 57,182
Hudson Pacific Properties, L.P. partners’ capital    
Common units, 144,822,419 and 143,845,239 outstanding at March 31, 2024 and December 31, 2023, respectively 2,839,717 2,733,795
Accumulated other comprehensive income (loss) 3,321 (62)
Total Hudson Pacific Properties, L.P. partners’ capital 3,268,038 3,158,733
Non-controlling interest—members in consolidated real estate entities 120,526 335,439
Total capital 3,388,564 3,494,172
TOTAL LIABILITIES AND EQUITY 8,251,462 8,282,050
Hudson Pacific Partners L.P. | Unsecured and secured debt, net    
Liabilities    
Debt, net 4,034,300 3,945,314
Hudson Pacific Partners L.P. | Joint venture partner debt    
Liabilities    
Debt, net 66,136 66,136
Hudson Pacific Partners L.P. | 4.750% Series C Cumulative Redeemable Preferred Stock    
Hudson Pacific Properties, L.P. partners’ capital    
4.750% Series C cumulative redeemable preferred units, $25.00 per unit liquidation preference, 17,000,000 units outstanding at March 31, 2024 and December 31, 2023 $ 425,000 $ 425,000