Hudson Pacific Properties is a

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

with 15.8 million square feet of office buildings, 1.5 million square feet of

sound stage A sound stage (also written soundstage) is a soundproof, large structure, building, or room with large doors and high ceilings, used for the production of theatrical film-making and television productions, usually located on a secured movie or ...

s, and undeveloped rights for 3 million square feet of additional commercial property. Its properties are on the

West Coast of the United States The West Coast of the United States, also known as the Pacific Coast, Pacific states, and the western seaboard, is the coastline along which the Western United States meets the North Pacific Ocean. The term typically refers to the contiguous U.S ...

and

Vancouver Vancouver ( ) is a major city in western Canada, located in the Lower Mainland region of British Columbia. As the List of cities in British Columbia, most populous city in the province, the 2021 Canadian census recorded 662,248 people in the ...

. It is organized in

Maryland Maryland ( ) is a state in the Mid-Atlantic region of the United States. It shares borders with Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware and the Atlantic Ocean to ...

and headquartered in

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the List of municipalities in California, largest city in the U.S. state, state of California and the List of United States cities by population, sec ...

. It is the largest independent operator of sound stages in Los Angeles.

History

The company was founded as Hudson Capital by Victor J. Coleman. In 2007, Hudson Capital purchased

Sunset Gower Studios Sunset Gower Studios is a television and movie studio at the corner of Sunset Boulevard and Gower Street in Hollywood, California. Established in 1912, it continues today as Hollywood's largest independent studio and an active facility for telev ...

and in 2008 purchased

Sunset Bronson Studios The Old Warner Brothers Studio, officially called today Sunset Bronson Studios (formerly known as KTLA Studios and Tribune Studios), is a motion picture, radio and television production facility located on Sunset Boulevard in Hollywood, California ...

. Hudson Capital was reformed as Hudson Pacific Properties in 2009 and on June 29, 2010, the company became a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

. In December 2014, the company acquired 26 properties in Northern California from

The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate b ...

EQ Office EQ Office is a real estate investment company that owns 80 office properties comprising 40 million square feet. The company is owned by funds managed by The Blackstone Group. The company was formerly known as Equity Office. History The company w ...

for $3.5 billion. This made Hudson Pacific the largest publicly traded owner-operator of office space in

Silicon Valley Silicon Valley is a region in Northern California that serves as a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical areas San Mateo Coun ...

. In 2017 the company bought Sunset Las Palmas Studios. In March 2019, in a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and economic risk, risks, and shared governance. Companies typically pursue joint ventures for one of four rea ...

with funds managed by The Blackstone Group, the company acquired Bentall Centre, Vancouver. In June 2020, funds managed by The Blackstone Group acquired a 49% stake in several properties owned by the company.

References

External links

{{Authority control 2009 establishments in California 2010 initial public offerings Companies based in Los Angeles Companies listed on the New York Stock Exchange Real estate investment trusts of the United States