LOS ANGELES, Calif., January 26, 2021—Hackman Capital Partners (“HCP”) and Square Mile Capital Management announced today that they have acquired the Sony Pictures Animation Campus, located at 9050 Washington Boulevard in Culver City, CA. The campus is located directly across the street from The Culver Studios and The Culver Steps, which are also owned by the partnership.
The latest acquisition, a three-building, 182,176 square foot, art deco Class “A” trophy office property is currently occupied by Sony’s Animation department as an extension of Sony’s neighboring studio lot in downtown Culver City. The campus includes three buildings: one building comprising 130,356 square feet; one building comprising 26,685 square feet; and one building comprising 25,135 square feet. The property 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 campus 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.
Michael Hackman, CEO of Hackman Capital Partners, said, “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.”
He added, “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.”
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 assisted in facilitating the transaction. Eastdil Secured represented Hackman Capital Partners on the financing.
About Hackman Capital Partners
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 Capital Partners has invested over $6.0 billion in properties representing over 35 million square feet and 400+ buildings across 41 states. HCP is the largest independent owner/operator of studio properties with 8 studios comprising 70+ soundstages, an additional 35 soundstages planned for development, and nearly 5.0 million square feet of space.
With approximately 650 employees, Hackman Capital Partners and its affiliate The MBS Group operate a global studio and media platform that acquires and services premiere studios, media facilities and related real estate opportunities in the top production markets around the world. The MBS Group, which is at the forefront of production innovation and technology, is a collection of companies that provides content creators with a comprehensive list of services, including equipment, studio management, logistics, and production planning solutions for the dynamic and ever-changing landscape of the physical production world. The business spans the spectrum of physical locations for film, TV, and new media production services. The MBS Group exclusively services more than 40 studios and over 300 soundstages globally.
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.
About Square Mile Capital Management LLC
Square Mile Capital Management LLC is an integrated institutional real estate and investment management firm based in New York. The firm has an established history of successful investing in commercial real estate at all points in the market cycle. Square Mile Capital’s experience supplying flexible equity and debt capital solutions in diverse property sectors and across the risk spectrum, combined with its integrated national sourcing and investment platform, facilitates the creation of value for our investors, partners, borrowers and counterparties. Square Mile Capital seeks to identify the impact of long-term trends on real estate values and target its equity investments on key investment strategies likely to benefit from such trends. The firm’s commercial real estate debt platform provides customized capital solutions for real estate owners and developers throughout the United States utilizing our broad investment platform, product expertise and research resources.
For more information, visit www.squaremilecapital.com.