Hudson Pacific sells Skyport Plaza in San Jose for $75.5M
FROM THE WIRE · SEEKINGALPHA.COM
* Hudson Pacific Properties (HPP [https://seekingalpha.com/symbol/HPP]) has closed on the sale of Skyport Plaza, a 419,000-square-foot office property in North San Jose, California, for $75.5M before prorations and closing costs. * The company also sold a real estate asset…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishSelling a largely vacant property strengthens the company's liquidity, a positive for the stock.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Hudson Pacific closed the sale of Skyport Plaza for $75.5 million.
- 02Net proceeds will pay down the unsecured revolving credit facility, leaving a $30 million balance.
- 03The 419,000 square foot property was largely vacant.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets