Hudson Pacific Properties, Inc. acquired 5th and Bell Building and 25,440 Square Feet of Vacant Commercial Space in Seattle from Alexandria Real Estate Equities, Inc. for approximately $120 million.
December 22, 2021
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Hudson Pacific Properties, Inc. (NYSE:HPP) acquired 5th and Bell Building and 25,440 Square Feet of Vacant Commercial Space in Seattle from Alexandria Real Estate Equities, Inc. (NYSE:ARE) for approximately $120 million on December 23, 2021. Hudson Pacific funded the acquisition with a combination of proceeds from the company's recently closed preferred stock offering and a $75 million draw on its revolving credit facility.
Hudson Pacific Properties, Inc. (NYSE:HPP) completed the acquisition of 5th and Bell Building and 25,440 Square Feet of Vacant Commercial Space in Seattle from Alexandria Real Estate Equities, Inc. (NYSE:ARE) on December 23, 2021.
Hudson Pacific Properties, Inc. is a real estate investment trust serving technology and media tenants. The Company acquires, repositions, develops and operates sustainable office and studio properties in high-barrier-to-entry technology and media epicenters. The Company's segments include office segment and studio segment. The Company's portfolio includes office properties, studio properties, land properties and production services assets. Its studio properties comprise of approximately 48 stages, sound stages and production-supporting office, and other facilities. Its land properties comprise of undeveloped density rights for future office, studio and residential space. The Company's production services assets comprise of vehicles, lighting and grip, production supplies and other equipment and the lease rights to an additional approximately 27 sound stages. It owns real estate in California, the Pacific Northwest, Western Canada and Greater London, United Kingdom.
Hudson Pacific Properties, Inc. acquired 5th and Bell Building and 25,440 Square Feet of Vacant Commercial Space in Seattle from Alexandria Real Estate Equities, Inc. for approximately $120 million.
HUDSON PACIFIC PROPERTIES, INC. 
