Updated Dec 4, 2024
Warner Bros. Ranch In Burbank Sold To Worthe Real Estate Group And Stockbridge
411 North Hollywood Way
$175,000,000
Building Size
—
Asset Type
Office
Closing
Aug 23, 2023
About this deal
AI
The property involved in the transaction is an office space situated at 411 North Hollywood Way in Burbank, spanning across 30 acres. The sale was finalized for a total of $175,000,000, with the acquisition being carried out by Worthe Real Estate Group and Stockbridge, with a lending contribution from Athene Annuity & Life Company.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $175,000,000
- Buyer: Worthe Real Estate Group - Jeff Worthe; Stockbridge - Terry Fancher & Sol Raso
- Seller: Warner Bros. Entertainment - David Zaslav
- Lender: Athene Annuity & Life Company - Joseph Cohen
The purchase of the Warner Bros. Ranch by Worthe Real Estate Group and Stockbridge marks a significant acquisition in Burbank. This deal involves a future redevelopment plan for the property, which includes 16 soundstages and an office complex. Additionally, as part of the transaction, Warner Bros. will lease back the new office space, ensuring a continued partnership between the involved parties.
On the Map
$175,000,000
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93