Hudson Pacific Properties, Inc. and its joint venture partner have extended the $1.1-billion CMBS loan secured by the Hollywood Media Portfolio. The extension moves the loan’s maturity to Nov. 9, 2027, with the stated interest rate unchanged and no principal paydown required at closing.

The 2.2-million-square-foot Hollywood Media Portfolio includes Sunset Gower Studios, Sunset Las Palmas Studios and Sunset Bronson Studios, along with five on-lot or adjacent Class A office properties, ICON, EPIC, Harlow, 6040 Sunset and CUE. The portfolio also includes rights to build another 1.1 million square feet of office and production space. Hudson Pacific owns a 51% interest in the portfolio through the JV and oversees day-to-day operations, leasing and development.

“This extension underscores our ability to execute a positive outcome for shareholders,” said Harout Diramerian, Hudson Pacific’s CFO. “It provides us with additional time and flexibility to advance our leasing strategy across this portfolio, while proactively managing our broader debt maturity schedule.

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