Hudson Pacific Properties, a vertically integrated REIT that owns and operates high-qualify office properties in Northern and Southern California, filed on Tuesday with the SEC to raise up to $265 million in an initial public offering. The Los Angeles, CA-based company was founded in 2009 to succeed Hudson Capital, LLC, a real estate investment firm founded by Victor J. Coleman and Howard Stern, both of whom held executive positions at Arden Realty (office REIT sold to GE Real Estate in May 2006 for $4.8 billion). Hudson Pacific booked $53 million in sales over the last 12 months and will own a portfolio of eight properties upon IPO completion. The REIT plans to list on the NYSE under the symbol HPP. BofA Merrill Lynch, Barclays Capital, and Morgan Stanley are the lead underwriters on the deal, for which pricing terms and timing were not disclosed.
