CPP Investment Board Real Estate Holdings Inc. acquired a 45% stake in 1455 Market Street office property from Hudson Pacific Properties, Inc. (NYSE:HPP) for approximately $220 million on January 7, 2015. The consideration is subject to closing adjustments. Hudson intends to use the sale proceeds for a like-kind exchange under the Internal Revenue Code Section 1031, which could include assets to be purchased from Blackstone Real Estate Partners V and VI as part of the Equity Office Properties' San Francisco Peninsula and Silicon Valley portfolio. Karen Diehl of Diehl Communications served as the public relations contact on the deal for Hudson Pacific Properties. Anton N. Natsis of Allen Matkins Leck Gamble Mallory & Natsis LLP acted as legal advisor to Hudson and Arthur S. Adler of Sullivan & Cromwell LLP acted as legal advisor to CPP Investment.

Canada Pension Plan Investment Board completed the acquisition of a 45% stake in 1455 Market Street office property from Hudson Pacific Properties, Inc. (NYSE:HPP) on January 7, 2015.