Hudson Pacific and Blackstone Secure Maturity Extension on $1.1B Hollywood Studio Debt

Hudson Pacific Properties and Blackstone have secured an extension on a $1.1 billion commercial mortgage-backed securities loan tied to their 2.2-million-square-foot Hollywood Media Portfolio. The maturity date has been shifted by 15 months to November 9, 2027, resolving a loan that entered special servicing ahead of its August maturity.

The underlying portfolio spans three major studio lots—Sunset Gower Studios, Sunset Las Palmas Studios, and Sunset Bronson Studios—alongside office assets including Harlow, 6040 Sunset, and Netflix-leased properties Icon, Cue, and Epic. Hudson Pacific holds a 51% stake with Blackstone controlling 49%.

Under the restructuring terms, the interest rate remains unchanged and the sponsors were not required to make a principal reduction. In exchange, the joint venture agreed to establish a $20 million leasing reserve, direct excess portfolio cash flow toward property capital needs, and execute a SOFR swap derivative at 3.5%. While the studio component maintains a 95.5% occupancy rate, the extension provides critical breathing room as entertainment and office real estate face prolonged headwinds from entertainment production slowdowns and broader financial stress.