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LOS ANGELES — Hudson Pacific Properties has completed the sales of 604 Arizona and 3401 Exposition, two office buildings in Los Angeles, for aggregate gross proceeds of $72.5 million before prorations and closing costs.
Combined, the two transactions will result in approximately a $22 million gain to be recognized in the third quarter. The company used the net proceeds to repay amounts outstanding on its unsecured revolving credit facility. The buyer was not disclosed.
Hudson Pacific Properties is a provider of end-to-end real estate solutions for tech and media tenants.