Hudson Pacific Properties, Inc. announced on September 9, 2026, that it and its joint venture partner have entered into an Extension and Loan Modification Agreement with Wilmington Trust, National Association, regarding a $1.1 billion commercial mortgage-backed securities (CMBS) loan. The financing is secured by the Hollywood Media Portfolio, which the company co-owns.
The agreement extends the maturity date of the loan to November 9, 2027. The stated interest rate remains unchanged, and no principal repayment is required at closing. The company stated that this action removes near-term maturity risk while preserving capital.
The portfolio consists of 2.2 million square feet and includes three premier Hollywood studio lots: Sunset Gower Studios, Sunset Las Palmas Studios, and Sunset Bronson Studios. It also includes five Class A office properties located on-lot or adjacent to the studio lots, along with rights to build an additional 1.1 million square feet of office and production space.
As part of the modification, the joint venture will reallocate partnership funds to establish a $20 million leasing reserve. Any excess cash flow generated by the portfolio will be swept into this reserve to fund ongoing capital needs for the duration of the loan term. Additionally, Hudson Pacific entered into a derivative to swap the Secured Overnight Financing Rate (SOFR) at 3.50% through the maturity date.
