Hudson Pacific Properties, Inc. (NYSE: HPP) has completed a $285 million refinancing of the loan secured by 1918 Eighth, a 668,000-square-foot Class A office tower in Seattle’s Denny Triangle. The property, which is 99% leased, is co-owned by Hudson Pacific (55%) through a joint venture.
The new five-year, interest-only loan carries a fixed rate of 6.16% and matures in August 2030. Proceeds were used to repay Hudson Pacific’s share of the prior $314.3 million loan, which was set to mature in December 2025.
“This transaction, addressing the last of our 2025 debt maturities, once again highlights the quality of our portfolio and our team’s ability to execute in today’s selective credit environment,” said Harout Diramerian, CFO of Hudson Pacific. “Prudent financial management has transformed our balance sheet and positioned us well to support leasing efforts as the West Coast office and entertainment industry recoveries take hold.”
Wells Fargo led the refinancing, with Newmark acting as the broker.
About Hudson Pacific Properties
Hudson Pacific Properties (NYSE: HPP) is a leading real estate investment trust (REIT) focused on providing end-to-end real estate solutions for technology and media tenants across major global hubs. The company specializes in acquiring, transforming, and developing collaborative, sustainable office and studio spaces tailored for high-growth industries.
For more information, visit HudsonPacificProperties.com.
