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Hudson Pacific picks up EOP portfolio for $3.5B

Dec 08, 2014 - The Deal Pipeline
Mergers and Acquisitions

Commercial real estate owner Hudson Pacific Properties Inc. said Monday it would acquire a portfolio of California office buildings from an affiliate of Blackstone Group LP in a cash and stock deal valued at $3.5 billion.

Terms of the deal call for Los Angeles-based Hudson to pay $1.75 billion in cash and issue about 63.5 million of its shares to Blackstone in return for Equity Office Properties Trust's San Francisco peninsula and Silicon Valley portfolios. The assets to be acquired includ...