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Hudson Pacific picks up stake in Calif. office campus for $150M

Hudson Pacific Properties Inc. purchased a leasehold interest in the five-building Page Mill Hill office campus in Palo Alto, Calif., for $150 million, before certain adjustments.

The company acquired the 182,676-square-foot property from a joint venture between Lionstone Investments and CalSTRS.

The acquisition adds to the company's footprint in Palo Alto's Stanford Research Park, where it already owns interests in six properties spanning more than 1 million square feet of office space. Tenants at Page Mill Hill include Gibson Dunn & Crutcher, Frank Rimerman + Co., Manatt Phelps & Phillips, and Perkins Coie.