Los Angeles, CA – March 23, 2016
El Segundo-based Highland Realty Capital has closed on $40 mil of acquisition financings for two LA-area properties. One of the transactions was for Victory Studios in Glendale and the other was for a mixed-use property in Hollywood.
In Hollywood, Highland sourced a joint venture equity partner for Hileman Cowley Partners in their acquisition of Victory Studios, a state of the art television production and broadcast center located at 1840 Victory Boulevard in the heart of the Burbank/Glendale media triangle. The 56.5k sf building was acquired for $15.4 mil, as reported by RENTV at the time a couple of weeks ago.
The building is currently 100% occupied by Telepictures Productions, a division of Warner Bros Entertainment Inc, which has occupied the property since 1994. Telepictures is best known for the production of the television shows Extra, The Ellen DeGeneres Show and TMZ.