Blackstone Buying Big Stake In Three Los Angeles Studios, Owners Planning To Expand
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deadline.comJill Goldsmith 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 square feet) from owner Hudson Pacific Properties for $1.65 billion.
The partners are planning to build more together in what appears to be an overall booming development market for studio sound stages.Netflix is the portfolio’s largest tenant, leasing over 700,000 square feet, in addition to signing long-term deals for stages and production space, the partners, who have worked together on other projects in Los Angeles, Seattle and Vancouver, said Monday.
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