Cohen & Steers, on behalf of its clients’ accounts, has invested $300 million in Hudson Pacific Properties as a cornerstone investor to support HPP’s balance sheet recapitalization. The purchase reflects 43 percent of HPP’s $690 million offering.
“We believe the West Coast office market recovery is under way and poised to gain momentum over the coming years. Hudson Pacific Properties stands to benefit from this trend, supported by a strong management team and high-quality portfolio. Recapitalizing the balance sheet positions HPP to reduce debt, extend existing debt maturities and fund the immense occupancy upside this high-quality portfolio has to offer,” said Jason Yablon, executive vice president and head of listed real estate.
