Hudson Pacific Properties’ losses deepened in the second quarter. The Los Angeles-based real estate investment trust reported a loss of $83 million compared to a roughly $75 million loss the prior quarter and a $47 million loss a year earlier, attributing the results to decreased revenue, ample lease terminations and increased disposal of obsolete assets, in its second-quarter earnings release. Revenues declined to $190 million compared to $218 million year-over-year due to declining office occupancies and discounted asset sales. That included a San Francisco office building the company sold earlier this summer for $28 million, about half the $56.5 million […]
This article originally appeared on The Real Deal. Click here to read the full story.
Powered by WPeMatico