Blackstone Group Acquires Film Studio/Office Portfolio For $825M

Blackstone Group has acquired a portfolio of office properties in Los Angeles for a total price of $825 million. The portfolio includes three properties located at 5800 Sunset Blvd, 1438 N Gower St, and 1040 N Las Palmas Ave. Spanning a total of 2,200,000 square feet, these properties are part of the film studio and office market.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $825,000,000
• Address: 5800 Sunset Blvd, 1438 N Gower St, 1040 N Las Palmas Ave
• Square Footage: 2,200,000
• Market: Film Studio / Office

The buyer, Blackstone Group, was represented by Stephen Schwarzman, Kathleen McСarthy, Jonathan Gray, and Ken Caplan. On the other hand, the seller, Hudson Pacific Properties Inc, was represented by Victor Coleman. The deal was facilitated by brokers from Goldman Sachs, Barclays, Eastdil Secured, and BofA Securities.

With this acquisition, Blackstone Group has made a significant move in securing prime office properties in Los Angeles. The portfolio sale transaction highlights the involvement of key individuals from both the buyer and seller sides, as well as the collaboration between various brokerage firms.