Hudson Pacific extends $1.1 billion Hollywood portfolio loan to November 2027

Hudson Pacific Properties, Inc. (NYSE: HPP) and its joint venture partner extended the $1.1 billion CMBS loan secured by the Hollywood Media Portfolio, the company announced September 11. The loan now matures November 9, 2027, with the stated interest rate unchanged and no principal paydown required at closing.

Why the extension matters

CFO Harout Diramerian said the extension removes near-term maturity risk while preserving capital. It gives the venture more time and flexibility to advance leasing across the studio and office portfolio as Hudson Pacific manages its broader debt maturity schedule.

What changed in the loan

The agreement extends the existing CMBS loan. Its $1.1 billion principal was not reduced through a required closing paydown, and the stated interest rate remains unchanged. The new November 2027 maturity gives the venture additional time to pursue its leasing strategy.

What’s in the Hollywood Media Portfolio

The approximately 2.2 million-square-foot portfolio includes Sunset Gower Studios, Sunset Las Palmas Studios and Sunset Bronson Studios. It also contains five Class A office properties on or adjacent to the lots: ICON, EPIC, Harlow, 6040 Sunset and CUE.

Hudson Pacific holds a 51% interest through the joint venture and oversees day-to-day operations, leasing and development. The portfolio also includes rights to build another 1.1 million square feet of office and production space.

Reserve and rate hedge

As part of the extension, the venture will reallocate partnership funds to a $20 million leasing reserve at closing. Excess cash flow from the portfolio will be swept into that reserve to fund ongoing capital needs throughout the loan term. The extension therefore preserves capital otherwise needed for a principal paydown while committing partnership funds and future excess cash flow to the properties.

Hudson Pacific also entered into a derivative to swap SOFR at 3.50% through maturity. That figure is the SOFR swap rate, not the loan’s total interest rate. Reported interest expense will include fees and costs associated with both the extension and the derivative.

Filing path

Hudson Pacific Properties disclosed the Hollywood Media Portfolio loan extension in Form 8-K AccNo 0001482512-26-000073 under Items 7.01, 8.01, and 9.01 with Exhibit 99.1, accepted September 11, 2026.