Hudson Pacific Properties, Inc. · NYSE:HPP
Hudson Pacific Properties — BofA Securities Global Real Estate Conference 2025
17 slides from Hudson Pacific Properties's conference presentation, Sep 8, 2025
Slide 1: Hudson Pacific Properties | Investor Update 2Q 2025
Hudson Pacific Properties | Investor Update 2Q 2025
Slide 2: Disclaimer
Disclaimer Hudson Pacific Properties, Inc. is referred to herein as the “Company,” “Hudson Pacific,” “HPP,” “we,” “us,” or “our.” This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Excha
Slide 3: Investment Highlights
Investment Highlights Unique Tech & Media Focus Focused on acquiring, transforming, developing, leasing and operating premier real estate and related services demanded by the dynamic and synergistic tech and media industries Leasing Drivers with Recovery Underway West Coast office fundamentals stren
Slide 4: 2Q25 Earnings Snapshot
2Q25 Earnings Snapshot “With a capital structure that now provides $1 billion of liquidity, along with emerging growth drivers from AI and a media industry that is finally beginning to ramp production, we are poised to capture additional value and drive cash flow. We appreciate that this will take t
Slide 5: West Coast Office Recovery Underway
West Coast Office Recovery Underway Fundamentals improving with 60%+ of HPP unleased in-service portfolio in San Francisco and Silicon Valley, which are leading the region’s office market recovery Positive Trends in HPP’s Major Office Markets – 2Q25 v. 2Q241 Downtown Downtown San Francisco Downtown
Slide 6: San Francisco Bay Area Leads AI CRE Growth
San Francisco Bay Area Leads AI CRE Growth The Bay Area far exceeds other gateway markets in AI ecosystem factors, which are drivers of past and predictors of future AI office footprint expansion Talent Higher Ed Funding Networks Specialized skills, Proximity to major Concentration of Proximity to B
Slide 7: Tech & AI Driving Forward Office Leasing
Tech & AI Driving Forward Office Leasing Composition of HPP’s tours and pipeline shifting year-to-date, with growing tech and AI requirements and an increase in average size—Bay Area currently driving this activity 2025 Quarterly HPP Pipeline1 – Industry % 2025 Quarterly Tours – Industry % by Sq Ft
Slide 8: Office Occupancy Growth 2H25 & Beyond
Office Occupancy Growth 2H25 & Beyond 2Q25 in-service occupancy was stable quarter-over-quarter—strong leasing activity combined with significantly lower expirations provide runway for portfolio-wide occupancy growth 2Q25 v. TRAILING 8Q AVG. Leasing Activity on Track to Begin to Meaningfully 558K Sq
Slide 9: Portfolio in Path of AI Growth – San Francisco
Portfolio in Path of AI Growth – San Francisco Large and mid-size AI requirements have focused on Financial and Mission Districts, but as space gets absorbed and safety improves, SOMA and Union Square will increasingly benefit AI & S.F. OFFICE MARKET1 95% of global AI VC funding 31 AI tenants in the
Slide 10: Portfolio in Path of AI Growth – Silicon Valley
Portfolio in Path of AI Growth – Silicon Valley Palo Alto and Santa Clara already benefiting from increasing tech and AI requirements—large requirements are growing, but for startups market-ready space leases quickly HPP PALO ALTO PORTFOLIO1 S.V. TENANTS IN THE MARKET3 6.2M sq ft, highest since 28%
Slide 11: AI's Next Stop: Seattle
AI’s Next Stop: Seattle Seattle maintains the second largest AI labor pool and third most job openings—growing requirements from Bay Area companies indicate appetite to venture north for talent AI Growth Primarily Centered in City of Seattle Trophy-quality Seattle Area AI Footprint by Cluster new co
Slide 12: Expanded CA Tax Credit Likely to Jumpstart Production
Expanded CA Tax Credit Likely to Jumpstart Production Even as show counts remain in mid-80s, first application round provided allocations to 22 new TV series, with additional allocations for feature films expected in early 4Q25 1st WAVE NEW TAX CREDT ALLOCATIONS1 QUIXOTE BREAKEVEN 400% increase in T
Slide 13: Driving Stage Occupancy & Services Utilization
Driving Stage Occupancy & Services Utilization Sunset / Quixote poised to capture demand as production increases in Los Angeles, with success even pre-tax credit signing quality leads without improvements to show counts SUNSET / QUIXOTE DIFFERENCE SUNSET LAS PALMAS CASE STUDY Deep Industry Relations
Slide 14: Fortified Balance Sheet Enhances Flexibility
Fortified Balance Sheet Enhances Flexibility Completed multiple capital transactions to delever and lengthen maturity ladder with ample liquidity to execute on strategic priorities as office and studio recoveries take hold Consistent Execution + $475M office portfolio CMBS, Element LA refinancing HP
Slide 15: Definitions
Definitions Backfilled Office Leases: Defined as new leases with respect to occupied space executed on or prior to June 30, 2025, but with commencement dates after June 30, 2025, and within the next eight quarters. Cash Rent Growth: Initial stabilized cash rents on new and renewal leases compared to
Slide 16: Definitions (Cont.)
Definitions (Cont.) Net Operating Income (“NOI”): We evaluate performance based upon property NOI from continuing operations. NOI is not a measure of operating results or cash flows from operating activities or cash flows as measured by GAAP and should not be considered an alternative to income from
Slide 17: HudsonPacificProperties.com
HudsonPacificProperties.com
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