Hudson Pacific Raises $196 MillionTuesday, January 28, 2014
Hudson Pacific Properties has raised $196 million in a public stock offering, the company announced after the close of the markets Tuesday.
The Brentwood real estate trust will use the money to help fund its $58 million purchase of a Seattle mixed-use property called Merrill Place. That deal was announced earlier this week and is expected to close next month.
The company will also use proceeds of the stock offering to pay off debt.
Hudson shares were flat in afterhours trading after rising 0.3 percent to close at $21.49 in Tuesday trading on the New York Stock Exchange.