A subsidiary of Santa Monica-based BLT Enterprises purchased the Ben Kitay Stages in Hollywood for an undisclosed sum, the group announced May 29. It is BLT’s first studio acquisition.
Ben Kitay Stages has four sound stages, production offices and parking.
"The acquisition of these very successful sound stages is a natural evolution for BLT as we continue to expand and diversify our portfolio to encompass creative assets," said Bernard Huberman, founder and president of BLT, in a statement. "While smaller in scale, these full-service stages offer all the capabilities of larger production facilities and are in high demand."
BLT is establishing BLT Studios, a new operating business as part of the acquisition.
“We originally looked at this acquisition as a pure real estate play; however, after rolling up our sleeves and learning about the exciting business of stage and equipment rentals, we quickly realized this was an opportunity we didn't want to pass up,” Huberman said.
Lee & Associates’ Aaron Wilder and Brad McCoy represented BLT in the transaction.
Commercial real estate reporter Hannah Madans can be reached at firstname.lastname@example.org. Follow her on Twitter @HannahMadans
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- SETTING THE STAGE
- Radiology Partners Signs $33M El Segundo Lease
- West Hollywood Retail Property Purchased for $25.25M
- Hackman Nears Soundstage Buy
- Santa Monica-Based Hawke Media Picks Up Execute LA of Venice
- Hollywood Hotel Makes Room for New Owner
- Gaming Company Buys Downtown Building for $22M
- Downtown Department Store Set for Refurbish