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

Property Image
SOLD
$72,500,000

California

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Office
Sold 08/25/2023
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Property Image
SOLD

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

604 Arizona Avenue

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Office
Sold 08/25/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Transaction Type:Sale

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.

Players

Victor Coleman
Victor Coleman
8 deals$1.6B volume
SELLER

Details

SOLD
IMAGE: Victor Coleman DATE: 08/25/2023 ADDRESS: 604 Arizona Avenue & 3401 Exposition Boulevard MARKET: Santa Monica ASSET TYPE: Office SELLER: Hudson Pacific Properties, Inc. - Victor Coleman SALE PRICE: $72,500,000 NOTE: Hudson Pacific Properties has sold two Santa Monica office properties for a total of $72.5 million, resulting in a gain of about $22 million in the third quarter. The buyers were not disclosed, and the proceeds will be used to repay the company's revolving credit facility, amid ongoing industry challenges including the impact of the Hollywood strikes.

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