Hudson Pacific completes $455m Bentall Centre loan refinancing in Vancouver
Hudson Pacific Properties has completed the refinancing of the loan secured by Bentall Centre, a 1.5 million-square-foot office property located in Vancouver and owned in partnership with Blackstone.
Upon the closing of this refinancing, Hudson Pacific has no debt maturities until December 2024. The new $454.8 million mortgage loan amount bears an interest rate of 230 basis points over CORRA, which the partnership swapped to a fixed rate of 4.36 percent and matures in 2027. The loan was refinanced by the original international and domestic lending group led by RBC.
“In partnership with Blackstone, we are pleased to have successfully refinanced our loan secured by Bentall Centre, which underscores the quality of the asset and the associated strong operating performance,” said Harout Diramerian, CFO. “Hudson Pacific now has no debt maturities until December 2024, as we continue to take a strategic and multifaceted approach to fortifying our company’s balance shee