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Hudson Pacific Properties sells 6 buildings in California for $210M

Hudson Pacific Properties Inc. sold the remaining six buildings in the Peninsula Office Park in San Mateo, Calif., for $210 million, representing a 15.4% premium to the allocated purchase price.

The transaction involves Buildings 1-5 and Building 7, which total around 447,739 square feet and were 83% occupied at time of sale. The company sold Building 6 in January for $22.5 million.

Hudson plans to use the net proceeds to reduce outstanding amounts on its revolver, and for general corporate purposes.