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Hackman Capital Partners and Square Mile Capital Management Buy Sony Pictures Animation Campus in Culver City

1/29/21

Hackman Capital Partners and Square Mile Capital Management have acquired the Sony Pictures Animation Campus, a three-building, 182.2k sf office property in downtown Culver City, in a deal said to be worth $160 mil. The asset was sold by H&R Reit, out of Toronto, Ontario.

Located at 9050 Washington Blvd, the campus sits directly across the street from The Culver Studios and The Culver Steps, which are also owned by the partnership. The art deco, Class “A” trophy property is currently occupied by Sony’s Animation department as an extension of Sony’s neighboring studio lot in downtown Culver City.

The campus contains three buildings of 130.4k sf, 26.7k sf and 25.1k sf in size. It also includes a private subterranean garage, a screening room, cafeteria, coffee stand, a park-like central courtyard and balconies with views of the surrounding area.

The complex is in the center of one of the most sought-after office markets in West Los Angeles and is surrounded by a mix of attractive amenities including restaurants, shops, outdoor cafes and live theaters, and conveniently located next to mass transit. Located in the heart of Culver City, the area has become the coveted destination for media, entertainment, and technology businesses. The city’s history is rooted in the motion picture industry and is home to a rapidly expanding multi-media hub.

Hackman Capital Partners has emerged as one of the leading operators of studio media properties on a global basis. The firm also actively focuses on acquiring best-in-class media and creative office properties such as the Sony Pictures Animation Campus. Hackman Capital Partners will continue to expand its portfolio of media office properties and its footprint in Culver City.

Square Mile Capital Management CEO Craig Solomon commented, “We are very enthusiastic about the targeted entertainment property investment platform that we have established in collaboration with Hackman Capital Partners. The investment fundamentals have never been stronger – high demand for broadcast and streaming content translates into high demand for quality studio facilities, support services and related office space. We anticipate that our platform will grow further as we continue to take advantage of acquisition and development opportunities.”

Kevin Keating of TRES Advisory Group and Judd Dunning of DWG Capital Group vetted the institutional-quality potential buyers for H&R REIT, and advised the seller and Hackman Capital Partners and Square Mile Capital Management through the pandemic and closing. Eastdil Secured represented Hackman Capital Partners on the financing.

Founded in 1986, Hackman Capital Partners is a privately-held and fully-integrated operating company that focuses on buying, renovating and re-imaging studios, vintage commercial, industrial, and other properties. Based in Los Angeles, Hackman has invested over $6 bil in properties representing over 35 msf and 400+ buildings across 41 states. HCP is the largest independent owner/operator of studio properties with eight studios comprising 70+ soundstages, an additional 35 soundstages planned for development, and nearly 5 msf of space.

The HCP/Square Mile studio and media portfolio includes: The Culver Studios, the historic 14.3-acre film and television studio in downtown Culver City that is the new home to Amazon Studios; Television City Studios, the iconic former CBS broadcasting facility on 25-acres in the heart of West Hollywood; MBS Media Campus, a state-of-the-art 22-acre production facility in Manhattan Beach, CA; Silvercup Studios, one of New York City’s most iconic studios covering 10.4 acres; Second Line Stages, the only purpose-built production facility in New Orleans, Louisiana; The MBS Group; Eastbrook Studios London, which at completion will be the largest studio in the City of London; Saticoy Studios in Van Nuys, CA and Raleigh Studios in Hollywood, CA.

Photos: Allen Wolfsheimer






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