BEVERLY HILLS, CA-Hudson Pacific Properties has acquired the leasehold interest in the six-story, 58,484-square-foot 9300 Wilshire Blvd. office building for $15 million in an all-cash transaction. The acquisition is the second all-cash transaction in recent weeks by the newly formed Los Angeles-based REIT, which also recently bought the 113,000-square-foot Del Amo Office Building in Torrance for $27.5 million in an all-cash transaction, acquiring a 100% ownership of the ground lease for the property.

Hudson Pacific acquired 9300 Wilshire from 9300 Wilshire Building LLC, which was represented by Bob Safai of Madison Partners. The Beverly Hills office building is 93% leased to a diverse mix of tenants including professional service firms, finance and media and entertainment companies.

Howard Stern, president of Hudson Pacific, describes the 9300 Wilshire building as "a stabilized asset in a highly-desirable market." The building is situated at the intersection of Wilshire Boulevard and Rexford Drive.

Stern points out that Hudson Pacific's team "has extensive, previous experience owning and operating office buildings in Beverly Hills.” Stern and Victor Coleman, Hudson Pacific's chairman and CEO, were executives with REIT Arden Realty during the years when Arden grew into the largest office landlord in Southern California. The Hudson executive team also includes CFO Mark Lammas, former EVP of investments at Maguire Properties, which is now known as MPG Office Trust.

Hudson Pacific's investment strategy is to acquire properties in "high barrier-to-entry, in-fill locations with favorable, long-term supply-demand characteristics," the company says. Its portfolio of approximately two million square feet is located in the company’s target markets that include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay.