Hudson Pacific and CPPIB buy Seattle office property

Mon Oct 10, 2016 11:28am EDT
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(Reuters) - A joint venture of Hudson Pacific Properties Inc (HPP.N: Quote) and Canada Pension Plan Investment Board said it acquired an office tower in Seattle for about $180 million.

CPPIB and Hudson Pacific will own 45 pct and 55 pct interests, respectively, in the property which has HBO and Redfin as tenants.

The joint venture closed a 10-year, secured loan worth $101 million from a prominent institutional lender.

(Reporting by John Benny in Bengaluru; Editing by Martina D'Couto)