Hudson Pacific Properties ( (HPP) ) has provided an update.
Hudson Pacific Properties announced a robust third quarter for 2024, with notable leasing activity and a positive outlook despite reporting a decline in total revenue and an increased net loss compared to the previous year. The company signed 1.6 million square feet of office leases, reflecting strong demand, particularly from tech and media tenants. While the studio segment faces challenges, optimistic signs include high interest in film and TV stages and potential tax credit incentives. Hudson Pacific remains focused on financial flexibility with no debt maturities until late 2025, and an active strategy to bolster its balance sheet.
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