Cohen & Steers Invests $300 Million On Behalf of Clients with Hudson Pacific Properties to Support Balance Sheet Recapitalization

Rhea-AI Summary

Cohen & Steers (NYSE: CNS) has made a significant $300 million investment in Hudson Pacific Properties (NYSE: HPP) as part of HPP's $690 million balance sheet recapitalization effort. The investment represents 43% of the total offering, positioning CNS as a cornerstone investor. According to Jason Yablon, Executive VP and Head of Listed Real Estate at Cohen & Steers, the investment is strategic due to the anticipated recovery in the West Coast office market. The recapitalization aims to help HPP reduce debt, extend debt maturities, and capitalize on potential occupancy improvements in their high-quality portfolio.

Positive

• Strategic $300 million investment represents significant confidence in HPP's future
• Investment will help HPP reduce debt and extend debt maturities
• Positions CNS to benefit from anticipated West Coast office market recovery
• Large 43% stake in the $690 million offering shows strong commitment

Negative

• Significant exposure to the still-recovering West Coast office market
• Large investment concentration in a single property company

NEW YORK, June 16, 2025 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS), announced today that the firm, on behalf of its clients' accounts, has invested $300 million in Hudson Pacific Properties, Inc, (NYSE: HPP), a leading West Coast office REIT, as a cornerstone investor to support HPP's balance sheet recapitalization. The purchase reflects 43% of HPP's $690 million offering.

Jason Yablon, Executive Vice President and Head of Listed Real Estate, said:
"We believe the West Coast office market recovery is underway and poised to gain momentum over the coming years. Hudson Pacific Properties stands to benefit from this trend, supported by a strong management team and high-quality portfolio. Recapitalizing the balance sheet positions HPP to reduce debt, extend existing debt maturities and fund the immense occupancy upside this high-quality portfolio has to offer."

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

About Hudson Pacific Properties. Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. For more information visit HudsonPacificProperties.com.

This release is not investment advice or a recommendation or offer to invest in HPP or any Cohen & Steers product or service, and HPP is not necessarily a holding in any particular fund or account managed by Cohen & Steers.

Website: https://www.cohenandsteers.com
Symbols: NYSE: CNS

View original content:https://www.prnewswire.com/news-releases/cohen--steers-invests-300-million-on-behalf-of-clients-with-hudson-pacific-properties-to-support-balance-sheet-recapitalization-302482399.html

SOURCE Cohen & Steers, Inc.

FAQ

What is the size of Cohen & Steers' (CNS) investment in Hudson Pacific Properties?

Cohen & Steers invested $300 million in Hudson Pacific Properties, representing 43% of HPP's $690 million offering.

Why did Cohen & Steers (CNS) invest in Hudson Pacific Properties?

CNS invested in HPP due to their belief in the West Coast office market recovery and HPP's strong management team and high-quality portfolio.

How will the investment impact Hudson Pacific Properties' balance sheet?

The investment will help HPP reduce debt, extend existing debt maturities, and fund potential occupancy improvements in their portfolio.

What percentage of Hudson Pacific Properties' offering did Cohen & Steers acquire?

Cohen & Steers acquired 43% of Hudson Pacific Properties' $690 million offering.

Who led the investment decision for Cohen & Steers in Hudson Pacific Properties?

Jason Yablon, Executive Vice President and Head of Listed Real Estate at Cohen & Steers, led the investment decision.