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LOS ANGELES-Former executives of Arden Realty have filed an IPO for 12.8 million shares at $17 per share for a new REIT called Hudson Pacific Properties, which owns Hollywood’s storied Sunset Gower Studios and seven other office and entertainment properties. The company expects to raise $217.6 million, with proceeds of $210.5 million for the new REIT.

The former Arden execs at Hudson are Victor Coleman, the company’s chairman and CEO, and president Howard Stern, who were with Arden during the years the company 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 (now MPG Office Trust).

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