Hudson Pacific Properties has closed on $475M of commercial mortgage-backed securities financing for a six-property office portfolio, the REIT announced Monday.
The portfolio is all West Coast assets and includes the Los Angeles properties 11601 Wilshire Blvd. and Element LA.
The latter is home to video game developer and publisher Riot Games and was encumbered by a $168M loan.
“This financing provides us with nearly half a billion dollars of gross proceeds to fully repay our Element LA secured loan and outstanding amounts on our credit facility,” Hudson Pacific Chief Financial Officer Harout Diramerian said in a release announcing the news. “Along with recent and potential…