Hudson Pacific posts $53M quarterly loss blamed on Quixote drag

Victor Coleman is working on his bottom line. Hudson Pacific Properties posted a $53 million net loss in the first quarter, an improvement compared to the $75 million loss in the same period last year.  The Los Angeles real estate investment trust mostly blamed the losses on non-real estate depreciation and prior-year write-downs connected to its Quixote business. The REIT lost about $300 million last year from writing down Quixote.  But Coleman, whose compensation was cut because shareholders weren’t happy, said he wants to break even on Quixote this year. The production services vendor, which Hudson Pacific purchased for $360 […]This article originally appeared on The Real Deal. Click here to read the full story.