Hudson Pacific Properties is trimming its holdings in the Los Angeles region with a property sale near its West Los Angeles headquarters. The firm sold Element L.A., a 12-acre, 284,000-square-foot office campus at 12333 West Olympic Boulevard in Sawtelle, for $150 million. It also received a separate $81 million payment to terminate the existing lease, and transfer taxes for the sale were paid by the buyer, longtime tenant Riot Games. Hudson Pacific is using part of the $231 million total proceeds from the sale to repay $206 million of commercial mortgage-backed securities debt tied to the property. The seller acquired […]
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