Hudson Offers Up Stock To Back $179M Calif. Office Buys

Law360, New York (May 15, 2012, 6:31 PM EDT) -- Los Angeles-based property manager Hudson Pacific Properties Inc. announced Tuesday that it was putting its stock up for sale to help finance the acquisition of two major office properties in California, worth a combined $179 million.

Upon placing 11.5 million shares of common stock on the auction block at $15 a pop, Hudson Pacific said it intends to use the proceeds — which could reach up to $190.8 million if underwriter discounts are not taken — to pay down debt and finance the new acquisitions. Per...
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