Hudson Pacific Appoints Barry Sholem to Board of Directors

Rhea-AI Summary

Hudson Pacific Properties (NYSE: HPP) announced the appointment of Barry Sholem to its Board of Directors effective March 13, 2023, succeeding Robert Harris II. Sholem, founder of MSD Partners, brings extensive experience in real estate investment and management. He aims to leverage his skills to enhance shareholder value amidst ongoing industry dynamics. CEO Victor Coleman expressed gratitude for Harris's nine years of service, noting the strategic advantages of Sholem's appointment, particularly his track record through various market cycles. Hudson Pacific continues to focus on real estate solutions tailored for tech and media tenants.

Positive

• Barry Sholem's extensive experience in real estate investment can provide fresh insights for Hudson Pacific.
• Sholem's background includes leadership roles in notable firms, indicating strong industry connections that could benefit HPP.

Negative

• Transitioning board members may create initial disruptions in continuity.
• Robert Harris's departure after nine years may leave a gap in institutional knowledge.

LOS ANGELES--(BUSINESS WIRE)-- Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for tech and media tenants, today announced that Barry Sholem has been appointed to the company’s Board of Directors effective March 13, 2023. Sholem succeeds outgoing board member Robert Harris II.

Sholem is the Founder and Partner of Real Estate for investment advisory firm MSD Partners, L.P., and currently serves as the Chairman and Senior Advisor of Real Estate for BDT & MSD Partners, a merchant bank. He previously served as Chairman of DLJ Real Estate Capital Partners, a real estate fund that he co-founded and that invested in a broad range of real estate-related assets. Prior to that, he served as Managing Director at Credit Suisse First Boston and as head of the west coast real estate group for Goldman Sachs.

“Our entire organization is grateful to Robert for his nine years of invaluable service during a time of significant growth for Hudson Pacific. Barry will be an excellent addition to our Board of Directors as we leverage his extensive and proven record of investing in real estate and operating assets in our markets. We believe we will also benefit from his experience navigating through multiple cycles as we seek to create long-term value for our shareholders,” said Victor Coleman, Chairman and Chief Executive Officer of Hudson Pacific.

Sholem is a member of the Urban Land Institute, the Real Estate Roundtable and the University of California, Berkeley Real Estate Advisory Board. He is also a board member for SITE Centers (NYSE: SITC). Sholem received a B.A. from Brown University and an MBA from Northwestern University’s J.L. Kellogg Graduate School of Management.

About Hudson Pacific Properties

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. For more information visit HudsonPacificProperties.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the company's control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the company's Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the company from time to time with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230316005336/en/

Investor Contact

Laura Campbell

Executive Vice President, Investor Relations & Marketing

(310) 622-1702

lcampbell@hudsonppi.com

Media Contact

Laura Murray

Senior Director, Communications

(310) 622-1781

lmurray@hudsonppi.com

Source: Hudson Pacific Properties, Inc.

FAQ

Who is Barry Sholem, and what is his new role at Hudson Pacific Properties?

Barry Sholem has been appointed to the Board of Directors of Hudson Pacific Properties effective March 13, 2023.

What experience does Barry Sholem bring to Hudson Pacific Properties?

Sholem is the founder of MSD Partners and has previously held senior positions at Credit Suisse and Goldman Sachs, providing extensive real estate investment expertise.

What impact might Barry Sholem's appointment have on Hudson Pacific Properties?

His experience in navigating market cycles is expected to enhance strategic decision-making and shareholder value for Hudson Pacific.

Why did Robert Harris II leave the Board of Hudson Pacific Properties?

Robert Harris II's departure follows nine years of service, during which he contributed to the company's significant growth.