78.9 F
Los Angeles
Wednesday, Sep 27, 2023

Hackman Capital, Square Mile Acquire Sony Campus

Hackman Capital Partners and Square Mile Capital Management have acquired the Sony Pictures Animation Campus in Culver City.

The campus is located at 9050 Washington Blvd., near the Culver Studios and Culver Steps, which the two companies also own.

The Sony Pictures Animation Campus consists of a 130,000 square-foot building, a 27,000 square-building and a 25,000-square-foot building. The property has parking, a screening room and other amenities. 

The campus is occupied by Sony’s animation department, not far from the Sony studio lot in Culver City.

“We are delighted to add this world-class property to our portfolio of top-flight media office properties. Located across the street from The Culver Studios and The Culver Steps, the campus is uniquely situated in an area that has become a hotbed for creative industries,” Hackman Capital Partners Chief Executive Michael Hackman said in a statement. 

“We have invested in Culver City for more than 15 years and are proud stakeholders of the city, which has experienced a vibrant revitalization and has attracted many of the world’s most innovative and important companies,” he added.

Eastdil Secured represented Hackman Capital Partners on the financing of the site. TRES Advisory Group’s Kevin Keating and DWG Capital Group’s Judd Dunning worked on the transaction.

In 2019, Hackman Capital finalized its $750 million deal for the iconic Television City Studios, which it purchased from CBS Corp. The company also purchased MBS Group for $650 million from the Carlyle Group. 

MBS ran MBS Media Campus, or Manhattan Beach Studios, in addition to production services company MBS Services. 

The 22-acre MBS Media Campus was acquired in a joint venture with Square Mile Capital Management.

“We are very enthusiastic about the targeted entertainment property investment platform that we have established in collaboration with Hackman Capital Partners,” Square Mile Capital Management Chief Executive Craig Solomon said in a statement.

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,” he added.

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

Featured Articles

Related Articles