Hudson Pacific divests two office properties for $72.5M in proceeds

Hudson Pacific announced that it has divested through separate transactions two Los Angeles office properties, 604 Arizona and 3401 Exposition, for aggregate gross proceeds of $72.5M before prorations and closing costs. Combined, the two transactions will result in approximately a $22 million gain to be recognized in the third quarter. The company used net proceeds to repay amounts outstanding on its unsecured revolving credit facility.