Hudson Pacific Properties, Inc. (NYSE:HPP) filed an 8-K on September 11, 2026, disclosing that subsidiaries and affiliates of its Operating Partnership entered into an Extension and Loan Modification Agreement on September 9, 2026, extending the maturity of a $1.1 billion CMBS mortgage financing secured by its Hollywood Media Portfolio assets.

Key Highlights

  • Loan extended: The stated maturity date of the loans that are part of the $1.1 billion CMBS financing has been extended to November 9, 2027.
  • Reserve established: A $20 million reserve was established for the funding of future leasing expenses and capital improvements at the portfolio properties.
  • Excess cash flow swept: Any future excess cash flow will be swept into the reserve for future leasing expenses, capital improvements, and certain other operating expenses and costs.
  • Interest rate unchanged: The stated interest rate of the loans was unchanged by the Extension and Modification.
  • No principal repayment required: The modification did not require any principal repayment.
  • Original financing: The Loan Agreement being modified was originally dated August 9, 2021, and is secured by Hollywood Media Portfolio assets, which Hudson Pacific co-owns.

Hudson Pacific Modifies CMBS Financing on Hollywood Media Portfolio

According to the filing, certain subsidiaries and affiliates of Hudson Pacific Properties, L.P., together with the Operating Partnership, entered into the Extension and Loan Modification Agreement with Wilmington Trust, National Association, as Trustee. The trustee acts for the benefit of the holders of BXHPP Trust 2021-Film, Commercial Mortgage Pass-Through Certificates, Series 2021-Film, and the related VRR Interest Owner, as lender. The underlying financing totals $1.1 billion and is secured by Hudson Pacific's Hollywood Media Portfolio assets, which the company co-owns.

The company disclosed that the modification extends the stated maturity date of the loans to November 9, 2027. In addition to the maturity extension, the agreement establishes a $20 million reserve designated for future leasing expenses and capital improvements at the portfolio properties. The filing further states that any future excess cash flow generated by the portfolio will be swept into this reserve, with funds available for future leasing expenses, capital improvements, and certain other operating expenses and costs.

The filing specifies that the stated interest rate on the loans was not changed by the Extension and Modification, and that no principal repayment was required as part of the agreement. Hudson Pacific also issued a press release on September 11, 2026, announcing the Extension and Loan Modification Agreement, attached to the 8-K as Exhibit 99.1. The company noted that the exhibit is furnished, not filed, pursuant to Item 7.01, and is therefore not subject to Section 18 of the Securities Exchange Act of 1934.

What Was Disclosed

Hudson Pacific Properties disclosed a loan modification extending the maturity of its $1.1 billion Hollywood Media Portfolio CMBS financing to November 9, 2027, with a new $20 million reserve for leasing and capital costs, no change to the interest rate, and no required principal repayment.