BLT Enterprises, in Santa Monica, bought Television Center in Hollywood for $64 million, reportedly. BLT Enterprises announced the sale on August 4.
Television Center is an arts and production campus of approximately 200,000 square feet that spans 6.4 acres near Cahuenga and Santa Monica boulevards.
The site was the original headquarters of Technicolor and the studio used through Metro Pictures Corp., which has become Metro-Goldwyn-Mayer or MGM.
“This is an exclusive opportunity to gain an asset of this magnitude in the Hollywood Media District, which is experiencing a renaissance with the convergence of media and generation companies,” said Bernard Huberman, founder and president of BLT Enterprises in a report.
“The previous property has done a phenomenal task in transforming ownership of its original uses, and we are satisfied with the step of the witness and will continue the evolution of the assets to attract more tenants of television production, movies and virtual of classic media and streaming. Companies. as cutting-edge professionals in generation and design,” he added.
The site has gate access, production facilities, nearly 800 parking spaces and outdoor amenity spaces.
“Offices and production are of other sizes, and there are many opportunities for the progression and reproach of tradition,” Huberman said, adding that assets would be exciting for small, giant tenants.
BLT represented the transaction through Brad McCoy, Dave Wilson and Aaron Wilder of Lee-Associates, who also advise on opportunities to reposition and expand the lease. The funding arranged through Bryan Kenny and Will James of Sunrise Mortgage – Investment Co.
Television Center is BLT’s foray into the entertainment market.
In 2019, he created BLT Studios when he bought what was then known as Ben Kitay Stages in Hollywood for an unreclosed sum. This site includes 4 sound scenarios, production offices and a parking lot.
BLT now owns more than 250 million feet of offices, production and studios in Hollywood with 200,000 feet more of progression options.
The company has purchased two creative office projects this year within a half-mile of Television Center. BLT was founded in 1984 and has developed or acquired more than $2 billion in assets. It began by owning truck terminals and industrial buildings but has recently acquired other types of properties as well.
BLT is the only company interested in sound scenes. In June, Blackstone Group Inc. and Brentwood-based Hudson Pacific Properties Inc. announced that Blackstone would earn a 49% stake in Hudson Pacific Hollywood studios, valuing the portfolio of 2.2 million square feet at approximately $1.7 billion. The agreement has since been reached.
The Homes Sunset Bronson, Sunset Gower and Sunset Las Palmas in the portfolio 35 sound scenes.
Hackman Capital Partners, in Culver City, has also placed a lot of emphasis on studies. Last year, the company completed the acquisition of 25 acres of Television City in the Fairfax area. He acquired the CBS Corp. campus. $750 million.
Hackman and Square Mile Capital Management have acquired MBS Group for $650 million from Carlyle Group. The acquisition included MBS Media Campus, or Manhattan Beach Studios, and corporate production MBS Services.
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