Hudson Pacific Properties, Inc. · NYSE:HPP
Hudson Pacific Properties — Corporate Update (November 2017)
7 slides from Hudson Pacific Properties's corporate update, Nov 17, 2017
Slide 1: Former EOP Portfolio Value Creation
Former EOP Portfolio Value Creation November 17, 2017
Slide 2: Former EOP Portfolio Value Creation Summary
+ Executed 2.8M SF of new and renewal deals at 32% cash rent spreads + Improved leased %1 by 160 bps, while 2.7M SF (44% of leased SF1) expired + Increased cash NOI2 by 20% (~10% annualized) + Increased cash NOI2 by 33% adjusted for Towers at Shores Center (~15% annualized) + Per Green Street Adviso
Slide 3: Leased % and NOI Growth Tables
Former EOP Portfolio Leased % and NOI Growth Tables 3 1) Leased square footage and percent leased calculations include uncommenced leases. 2) Cash NOI is a non-GAAP financial measure. See Appendix for a definition and reconciliation to net income. Peninsula 2,435,317 1,897,407 77.9% 79.4% 728,231 38
Slide 4: Appendix: Definitions & Cash/GAAP NOI Reconciliations
Appendix Definitions & Cash/GAAP NOI Reconciliations
Slide 5: Non-GAAP Financial Measures and Definitions
5 Non-GAAP Financial Measures and Definitions NET OPERATING INCOME (NOI) NOI is not a measure of operating results or cash flows from operating activities as measured by GAAP and should not be considered an alternative to income from continuing operations, as an indication of our performance, or as
Slide 6: Cash NOI Reconciliation to GAAP NOI
Cash NOI Reconciliation to GAAP NOI 6 22 In-service Former EOP Portfolio Assets Q215 Q317 Net Income (loss) (36,083)$ 14,510$ Adjustments: Interest expense 14,113 22,461 Interest income (48) (44) Unrealized (gain) loss on ineffective portion of derivative instruments - 37 Acquisition-related expense
Slide 7: Contact Info: Investor Relations
Contact Info: Laura Campbell Vice President, Head of Investor Relations (310) 622-1702 lcampbell@hudsonppi.com
Hudson Pacific Properties — Corporate Update (November 2017) on 6ix