Hudson Pacific Properties Sells Two Santa Monica Office Properties For $72.5M

Hudson Pacific Properties, Inc., led by Victor Coleman, has recently completed the sale of two office properties in Santa Monica. The properties located at 604 Arizona Avenue and 3401 Exposition Boulevard were sold for a total of $72.5 million. This sale resulted in a gain of approximately $22 million for Hudson Pacific Properties in the third quarter.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $72,500,000

The buyers of these Santa Monica office properties have not been disclosed. The sale proceeds will be used by Hudson Pacific Properties to repay their revolving credit facility. This transaction comes at a time when the industry is facing ongoing challenges, including the impact of the Hollywood strikes.