The Firm represented certain entities affiliated with The Blackstone Group L.P. in connection with a $608 million offering, consisting of 18,699,017 shares of common stock of Hudson Pacific Properties, Inc. Hudson Pacific offered 17,533,099 of the shares of common stock and used the net proceeds to acquire a like number of common units of partnership interest in its operating partnership, Hudson Pacific Properties, L.P., from entities affiliated with Blackstone (equal to 17,250,000 shares) and Farallon Capital Management, L.L.C. (equal to 283,099 shares). The remaining 1,165,918 shares of common stock were offered by entities affiliated with Farallon. The Firm represented Blackstone when it acquired an equity interest in Hudson Pacific as part of the consideration for a $3.5 billion asset sale in April 2015, and in its disposition of 10,000,000 common units for $291 million in May 2016 and 19,000,000 common units for $576 million in July 2016.
Hudson Pacific (NYSE: HPP) is a real estate investment trust, or REIT, that focuses on owning, operating and acquiring high-quality office properties and state of the art media and entertainment properties in select growth markets primarily in Northern and Southern California and the Pacific Northwest.
The Simpson Thacher team included Edgar Lewandowski (Capital Markets – NY); Jonathan Pacheco and Daniel Honeycutt (Capital Markets – D.C.); Brian Stadler (M&A); Jonathan Lindabury (Derivatives); Jennifer Levitt and Mimi Cheng (Credit); and James Rapp (Public Company Advisory Practice).