Investment group Blackstone is buying a big minority stake in three Hollywood studios — Sunset Bronson, Sunset Gower and Sunset Las Palmas Studios — with 35 sound stages (1.2 million sq…
Properties. The partners are planning to build more together in what appears to be an overall booming development market for studio sound stages.
They didn’t give a purchase price but said the total value of the assets in the new joint venture’s portfolio is $1.65 billion. The deal is expected to close in the third quarter.Rodney Barnes To Pen 'Tiger Woods' Scripted Miniseries, Entertainment 360 Comes On Board “Our latest joint venture with Blackstone unlocks a portion of the value we’ve created for our shareholders and provides us with significant capital to grow both our studio and office portfolios, including the build-out of additional development rights at our existing studios,” said Hudson Pacific chairman-CEO Victor Coleman.
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