Hudson Pacific Properties (HPP) said late Thursday it completed the sale of Maxwell, a non-core office property in the Los Angeles Arts District for $46 million before prorations and closing costs.
The company said it used the net proceeds to repay amounts outstanding on its unsecured revolving credit facility.
Hudson expects to have executed $93.8 million in non-core asset sales since mid-November last year, with additional sales expected to follow, the company said. This includes the Foothill Research Center office property, which will likely close in Q1.
Shares of the company fell 2.2% in after-hours activity.
Price: 3.09, Change: -0.07, Percent Change: -2.22
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