Victor Coleman’s Hudson Pacific Properties posts $218M loss
The losses keep on coming at Victor Coleman’s Hudson Pacific Properties. The office and studio REIT posted a $218 million loss for the third quarter, worse than the $136.5 million same time last year. HPP blamed write-downs and losses on office deals in San Francisco. The deals, Coleman said on Thursday’s call, “took largely vacant, capital-intensive assets off the books.” Coleman also touched on the Netflix-Radford situation; the studio in the Valley the REIT owns with Blackstone, which is on the market in a lender-facilitated deal; and leasing. Netflix buying Radford Studio Center is “not a concern of ours,” Coleman […]This article originally appeared on The Real Deal. Click here to read the full story.
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