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Hudson Pacific nets $582M in common share offering

Hudson PacificProperties Inc. and certain Farallon Capital Management LLC-affiliated funds nettedroughly $582.0 million and $24.4 million, respectively, in a just-completedoffering.

The offering comprised 20.0 million of the company's commonshares, with 19,195,373 shares issued by Hudson Pacific and 804,627 shares soldby the Farallon funds.

Hudson Pacific used the net proceeds from its portion of theoffering to buy 19.0 million common units of partnership interest in HudsonPacific Properties LP, the company's operating partnership, from certainBlackstone GroupLP-affiliated entities and 195,373 common units from the Farallonfunds.

The REIT said earlier that Blackstone and the Farallon fundswill own about 23.6% and 2.0% of Hudson Pacific, respectively, upon completionof the offering.

BofA Merrill Lynch was the offering's sole underwriter.