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Hudson Pacific Properties , Inc. Press Release UDSON PACIFIC PROPERTIES Hudson Pacific Properties Reports First Quarter 2021 Financial Results Net Income of $ 0.03 per Diluted Share FFO of $ 0.48 per Diluted Share ( Excluding Specified Items ) Same - store office and studio cash NOI increased 2.6 % and 6.4 % , respectively Over 524,000 Square Feet of Office Leases Executed GAAP and cash rent growth of 12.2 % and 2.4 % , respectively Stabilized and in - service office portfolios 92.7 % and 91.7 % leased , respectively Remaining 2021 office lease expirations just 6.5 % of Company's Share of ABR Collected 98 % of Q1 Total Rents Includes 99 % for office and 100 % for studio properties Collected 99 % of previously deferred rents owed first quarter $ 1.0 Billion Total Liquidity and No Material Maturities Until 2023 Q2 2021 FFO Guidance of $ 0.46 to $ 0.48 per Diluted Share ( Excluding Specified Items ) LOS ANGELES ( May 5 , 2021 ) -Hudson Pacific Properties , Inc. ( the " Company " or " Hudson Pacific " ) ( NYSE : HPP ) today announced financial results for the first quarter 2021 . Management Comments & Industry Outlook Victor Coleman , Hudson Pacific Properties ' Chairman and CEO , said : " With a growing percentage of the population vaccinated and case numbers declining concurrently , companies are formalizing and even accelerating plans to return to the office . We are seeing this in our conversations with current and prospective tenants , and more broadly in the increase in tenant tours and requirements across our markets . Both our first quarter leasing activity , in terms of volume , and our current leasing pipeline , that is , deals in leases , LOIs or proposals , are back on par with our long - term averages . Quarter after quarter , our rent collections are in the high - 90 percent range , and we are now successfully collecting essentially all previously deferred rents due for payment . " Our focus on thriving tech and media industries ; our high - quality , growth - oriented tenants ; our premier , modern portfolio ; along with our ample liquidity and excellent JV partners ideally position us for a post- COVID era and beyond . We remain focused on growth . In addition to One Westside , which will deliver nearly 600,000 square feet fully pre - leased to Google in first quarter of next year , our future development pipeline totals over three million square feet , of which 40 % are prime studio - related opportunities . We are also actively evaluating a number of value - add office and studio acquisition opportunities , and look forward to sharing more on this front as potential transactions progress . "