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, announced today the successful refinancing of the loan secured by Bentall Centre, a 1.5 million-square-foot office property located in Vancouver, British Columbia and owned in partnership with Blackstone.

Upon the closing of this refinancing, Hudson Pacific has no debt maturities until December 2024. The new $454.8 million mortgage loan amount (reflects prior day foreign currency exchange rates from CAD) bears an interest rate of 230 basis points over CORRA, which the partnership swapped to a fixed rate of 4.36%, and matures in 2027. The loan was refinanced by the original international and domestic lending group led by RBC.

“In partnership with Blackstone, we are pleased to have successfully refinanced our loan secured by Bentall Centre, which underscores the quality of the asset and the associated strong operating performance,” said Chief Financial Officer, Harout Diramerian. “Hudson Pacific now has no debt maturities until December 2024, as we continue to take a strategic and multifaceted approach to fortifying our company’s balance sheet.”

“Bentall Centre is well positioned for the future, and we look forward to continuing to serve as a home for so many of Vancouver’s incredible companies,” said Chuck We, Executive Vice President, Pacific Northwest and Canada Office Operations.

Since acquiring the property in 2019, Hudson Pacific and Blackstone have made significant capital investments in Bentall Centre to ensure the campus remains a vibrant part of the downtown core. These include asset modernization, the addition or redesign of tenant-specific amenities, as well as the curation of publicly accessible outdoor plazas to incorporate an array of events, pop-up retailers and art exhibits, such as the recently installed OVERFLOW IV sculpture by world-renowned artist Jaume Plensa. The partnership also added programmable LED lighting to the tower crowns, making Bentall Centre a dynamic night-time landmark within the Vancouver skyline. During Blackstone and Hudson Pacific’s ownership, the property has maintained a leased rate of more than 90%.

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.

Contacts

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

– Located at Spadina Avenue and Adelaide Street, 101 Spadina will include a 38-storey building next to a brand new public park –

– Click here to access 101 Spadina park renderings and demolition photos –

TORONTO–(BUSINESS WIRE)–Devron Developments (Devron), one of Toronto’s leading residential home builders passionate about creating high quality, long-term livable condominiums (condos), has begun demolition on its latest project site, 101 Spadina. Devron’s new 38-storey pre-construction development project located on Toronto’s largest avenue – at the southeast corner of Spadina Avenue and Adelaide Street – is set to deliver livable condos and timeless architecture to Toronto’s downtown core.

Demolition work started in late October, paving the way for the next milestone in the project, geothermal drilling, which is set to begin in the new year. This sustainable energy source will not only reduce carbon emissions but also provide cost savings for homeowners in the long term. In addition to offering sustainable benefits, as part of Devron’s commitment to creating vibrant and inclusive communities, Devron will provide the City with a 10,000 sq. ft. public park adjacent to the development site. Accessible to both 101 Spadina homeowners and the public, the park will provide a much-cherished green space in the downtown area. Click here to access 101 Spadina park renderings and demolition photos.

“Beyond this demolition milestone, we’re excited by the opportunity to deliver homes and architecture that is deserving of Toronto and the impact we hope this project will have on 101 Spadina’s future homeowners and the surrounding community,” said Pouyan Safapour, President of Devron. “We’re also thrilled that as part of this project, we have the opportunity to create a 10,000 sq. ft. public park. We know proximity to greenery and third spaces are of high importance to people and families. That’s why our goal is to create spacious and livable homes, and the addition of this park will only enhance our vision of redefining what downtown living looks like.”

Sales for 101 Spadina are set to launch next year, with a focus on end users looking for high-quality and livable homes in the downtown core. 101 Spadina is redefining livability in downtown Toronto. Visit 101spadina.com to register and receive the most up-to-date project information.

About Devron Developments

Devron Developments (Devron) is an award-winning residential home builder, passionate about positively impacting people’s lives and experiences by creating long-term livable spaces in the Greater Toronto Area. With a portfolio of notable condominiums like The Vanguard, The Winslow, and the upcoming 101 Spadina, Devron is committed to elevating communities through thoughtful architecture that enhances the cityscape, and high-quality buildings with a focus on livability, and sustainability. With nearly one million square feet of mixed-use property under development, Devron strives to create homes and inspiring spaces for end-users that are tailored to their neighbourhoods. Discover more by visiting www.devron.com.

Contacts

For more information:
Kayla Ciaschi

Talk Shop

647-985-9109

kayla@talkshopmedia.com

The technology helps facility and corporate real estate teams optimize real estate portfolios and operational expenses while improving hybrid work culture

ALPHARETTA, Ga.–(BUSINESS WIRE)–#deskbooking—OfficeSpace Software (“OfficeSpace”), the top-rated workplace management software on G2’s software review site today announced the release of its Workplace Intelligence solution to help teams track and benchmark utilization data across real estate portfolios in real-time.

Workplace Intelligence by OfficeSpace automates the collection, management, and data visualization of WiFi, badge, and desk booking data sources in intuitive cloud dashboards powered by Looker, a Gartner Magic Quadrant Challenger for analytics. Facility managers, heads of corporate real estate, and workplace experience strategists use the solution to make data-driven decisions about their real estate and employee experience strategies.

The technology saves users 3 – 10 hours a week by automating data collection and analysis workflows and eliminates data inaccuracies–increasing time for strategic decision-making and delivering a positive ROI across multiple business functions, from real estate to HR.

“We built Workplace Intelligence to help our clients understand where they can expand or contract their real estate footprint, refine their return-to-office (RTO) strategies, plan for spikes in attendance, reduce operational expenses, and boost employee engagement,” explains Andres Avalos, Chief Product Officer at OfficeSpace.

“Workplace Intelligence is a strategic asset for executive teams navigating unprecedented change in employee experience and workplace management,” shares Erin Mulligan Helgren, CEO of OfficeSpace. “This technology provides objective data to drive decisions that positively impact the bottom line and company culture.”

Workplace Intelligence uses advanced dashboards to benchmark employee presence by Site, Department, Employee Type, and Time by collating presence data from WiFi, badge, and desk booking sources. The solution helps teams understand which locations are most utilized, what percentage of their workforce is in-office, remote, or hybrid, which days and times have the highest and lowest attendance, and which employees are on-site on a given day. It also helps teams understand when to schedule employee events and services, and forecast new site selections. Analysts can drill down into the data, export and collate it with other data sets, and schedule recurring reports to keep stakeholders informed about utilization patterns to drive strategic decision-making.

“In today’s dynamic work environment, transparency and communication are key,” says Andres Avalos, Chief Product Officer. “Workplace Intelligence helps leaders have data-driven conversations with employees about their RTO strategies and ultimately supports teams in creating employee experiences that attract and retain top talent.”

The solution heralds a new chapter of innovation from the IWMS and Workplace Experience Application leader which was founded in 2008 and has recently added expert executives with specialized expertise in AI, Data, and B2C User Experience, including new Chief Executive Officer, Erin Mulligan Helgren, formerly of Bonterra/Social Solutions, Calytera, SunPower, Bazaarvoice, and Dell, Chief Product Officer, Andres Avalos, formerly of User Testing and IBM Watson, Mark Masters, Chief Financial Officer, formerly of Salesforce, Jask, Tact.AI, and HopIn, Heather Larrabee, formerly of GoSpotCheck AI, FORM, and Whole Foods Market-Amazon, Yoni Rouache, Chief Sales Officer, formerly of IBM, Varicent, and Target, and Sahara Muradi, VP of Product, formerly of MLB, Marriott Bonvoy, and CVent.

OfficeSpace is offering self-guided product tours and live weekly webinars showcasing Workplace Intelligence in action with Q&A. To register or for more information click here.

About OfficeSpace Software

OfficeSpace is the workplace management platform enabling the future of work, with software that helps teams plan, connect, and perform in the hybrid workplace. 1,600 of the world’s top organizations use OfficeSpace to get the most out of their space and connect the people in it, with intuitive space planning, desk and room booking, employee wayfinding, visitor management, and workplace intelligence. OfficeSpace is named Easiest to Use, Best Meets Requirements, Users Most Likely to Recommend, and Overall Leader, Fall 2023 on G2’s enterprise software review site. OfficeSpace was also featured as a top supplier in Gartner’s 2023 Market Guide for Workplace Experience Applications. The company is backed by Vista Equity Partners and Resurgens Technology Partners. Follow OfficeSpace on LinkedIn, @OfficeSpace Software.

Contacts

OfficeSpace Software Media Contact
Heather Larrabee, Chief Marketing Officer

1 (770) 728-8118
press@officespacesoftware.com

PMP^® Certification Holders Earn 33% Higher Median Salary Than Non-PMP Certified Professionals According to PMI Salary Survey, Further Raising the Appeal of Pursuing Professional Certifications

PHILADELPHIA–(BUSINESS WIRE)–#PMI—Project Management Institute (PMI) today released the 13th edition of its “Earning Power: Project Management Salary Survey,” which reveals the global project management salary landscape and highlights the importance of continuous education and skill building to stay ahead in today’s job market.

According to the survey, respondents holding the Project Management Professional (PMP)^® certification reported higher median salaries than project management practitioners without a PMP certification – 33% higher on average across the 21 countries surveyed. This report is a useful resource for professionals applying for project management roles and organizations seeking to fill them as it helps define the earning power of project professionals around the world.

About two-thirds (66%) of the survey participants reported that their total compensation (including salary, bonus, and other cash incentives) increased over the 12 months before completing the survey. The data also shows a broad consensus that the PMP certification is valuable not only for salary growth but also for career development. For example, in the United States, 55% of practitioners agreed that their PMP certification has been extremely valuable to their career development. To further demonstrate these points, in this video, PMP certification holders discuss the financial benefits they have realized through earning their certifications.

The survey data shows that the median salary of project professionals varies considerably from country to country and across variables. Salary information has been converted to U.S. dollars using normal exchange rates:

• The countries where project practitioners report the highest median salaries are the United States (US$120,000), Australia (US$103,789), Germany (US$99,512), United Kingdom (US$87,993), and Singapore (US$79,464).
• Salary increases with higher positions in virtually all countries, but the rate of increase varies significantly. The most dramatic increases are seen in Saudi Arabia, South Africa, and The United Arab Emirates, where respondents demonstrated increases of more than 60 percent in median salary from project manager I to project manager III.
• There appears to be a connection between salary and the size of projects managed, where most countries demonstrate higher median salaries among practitioners managing larger projects. For example, in Brazil, the median salary is reported to be US$26,507 when the project budget is less than US$100,000 and US$48,121 when the project budget is greater than US$10 million.

While there can be a monetary advantage to earning the PMP certification, there are other benefits, including the fact that certified project professionals are in significant demand across industries and geographies, and hiring managers are recognizing the value of industry certifications and skills-based hiring. Additionally, earning the PMP certification proves professionals have the skills needed for project success, which helps them break into an industry they are passionate about, empowering them to build a career around their passion. Maintaining the PMP certification proves professionals’ commitment to continuous learning, which is especially important as emerging technologies are becoming part of everyday business.

“This reported increase in compensation is a true recognition of the impact PMP-certified project professionals deliver in their daily work. Organizations are relying on project teams to make strategic priorities happen, and project managers are being rewarded for the pivotal skills they offer,” said Pierre Le Manh, PMP, President & Chief Executive Officer at PMI. “Earning potential is a major factor when making career choices, and organizations across the world acknowledge the depth of knowledge and expertise that PMP-certified project managers bring to the table. Becoming part of this globally recognized PMP-certified cohort sets you apart.”

A global summary report and interactive salary tool are available here. PMI members can access a more comprehensive report featuring annualized salary information for the 21 countries surveyed.

About the Report

PMI’s biennial report, “Earning Power: Project Management Salary Survey,” is an industry-leading source of data for both project practitioners and organizations who want to stay current with the salary landscape for today’s project professionals. The report is based on self-reported salary information fielded between March and April 2023 from more than 20,000 project management practitioners, bringing accuracy to the salary figures. The stratified random sampling methodology used for this study results in the ability to report meaningful compensation data for 21 countries.

About Project Management Institute (PMI)

PMI is the leading authority in project management, committed to advancing the project management profession to positively impact project success. We empower professionals to excel in project management practices through our growing global community, knowledge sharing, and best-in-class certifications—driving positive change in organizations and communities. Since 1969, our unwavering mission has been to advocate for the profession by offering life-long learning and connections to sharpen high-demand skills. Today, PMI provides professionals at every stage of their career journey with the globally recognized standards, online courses, thought leadership, events, and tools they need to succeed. With more than 300 chapters around the world, PMI members can network, find mentors, access career opportunities, and learn from peers, working together to drive greater impact. Visit us at: www.PMI.org, linkedin.com/company/projectmanagementinstitute, facebook.com/PMInstitute, and on X @PMInstitute.

Project Management Institute, PMI, and BRIGHTLINE are registered trademarks of Project Management Institute, Inc. All other trademarks are the property of their respective owners.

Contacts

Amanda DeFuria
Regional Communications Lead, PMI

Amanda.DeFuria@pmi.org