Hudson PacificProperties Inc. launched an underwritten public offering of 10.6 millionshares of its common stock.

The offering consists of 10,117,223 shares offered by the companyand 482,777 shares offered by certain funds affiliated with Farallon Capital ManagementLLC.

Hudson Pacific said it plans to use the net proceeds to acquirea total of 10.0 million common units of limited partnership interest in its operatingpartnership, Hudson Pacific Properties LP, from certain entities affiliated withThe Blackstone Group LP and 117,223 common units of limited partnership interestin the operating partnership from the Farallon funds.

Upon completion of the offering, Blackstone and the Farallonfunds will own roughly 36.6% and 2.7% of Hudson Pacific, respectively, through theirinterests in the outstanding shares of the company's common stock and in the commonunits of limited partnership interest in the operating partnership.

Hudson Pacific noted that it will not receive any of the proceedsfrom the sale of the Farallon shares.

BofA Merrill Lynch is acting as the sole underwriter for theoffering.