Hudson Pacific Properties, Inc. and its joint venture partner have secured an extension of the $1.1 billion CMBS loan tied to the Hollywood Media Portfolio. The modification pushes the loan’s maturity to November 9, 2027, while keeping the stated interest rate in place and requiring no principal paydown at closing.
The Hollywood Media Portfolio totals 2.2 million square feet and is centered on three major studio assets: Sunset Gower Studios, Sunset Las Palmas Studios and Sunset Bronson Studios. In addition to production facilities, the portfolio encompasses five on-lot or adjacent Class A office properties known as ICON, EPIC, Harlow, 6040 Sunset and CUE.
The portfolio also carries rights to develop an additional 1.1 million square feet of office and production space, providing future expansion capacity alongside the existing improvements. Hudson Pacific holds a 51% ownership interest in the venture that controls the portfolio.
Within the joint venture, Hudson Pacific is responsible for day-to-day operations, leasing and development activities across the studio and office properties. The company remains the primary manager of the portfolio’s performance and strategic positioning.
Harout Diramerian, chief financial officer of Hudson Pacific, said the extension reflects the company’s ability to deliver an outcome that aligns with shareholder interests. He noted that the revised maturity provides added time and flexibility to advance leasing initiatives within the Hollywood Media Portfolio while contributing to proactive management of the company’s broader debt maturity schedule.
