An unknown buyer entered into an agreement to acquire 9300 Wilshire LLC from Hudson Pacific Properties, Inc. (NYSE:HPP) for approximately $170 million in December 2017. The consideration involves payment of $136 million for Embarcadero Place, $22.5 million for Building 6 in Peninsula Office Park and $13.8 million for 9300 Wilshire. Hudson Pacific has entered into separate agreements for each of the properties. The transaction is expected to close by the end of January 2018. On January 25, 2018, Embarcadero Place was sold for $136 million before credits, prorations and closing costs. On January 31, 2018, Building 6 in Peninsula Office Park was sold for $22.5 million before credits, prorations and closing costs. The transaction for 9300 Wilshire is expected to close on March 1, 2018. On April 10, 2018, 9300 Wilshire was sold for $13.8 million. Hudson Pacific expects to designate proceeds generated from these dispositions to purchase one or more to-be-identified assets in like-kind exchanges under Internal Revenue Code Section 1031. As of Feb 15, 2018, proceeds from the sale of Embarcadero Place is anticipated to be ultimately used prior to the end of March 31, 2018, to repay amounts outstanding under Hudson Pacific Properties's unsecured revolving credit facility. Proceeds from the sale of Building 6 in Peninsula Office Park were used to repay amounts outstanding under Hudson Pacific Properties's unsecured revolving credit facility.