Culver City Inks Purchase Option Agreement for Former Sony Animation Campus

Culver City’s City Council and Public Finance Authority unanimously approved a $103-million exclusive purchase option agreement with an entity tied to Fortress Investment Group for the former Sony Pictures Animation Campus at 9050 Washington Blvd. Fortress foreclosed on the property’s defaulted mortgage and took possession of the 198,000-square-foot complex for $71 million last month.

The property was formerly owned by Hackman Capital Partners, which paid $160 million in 2021. Fortress bought out the approximately $104-million unpaid mortgage note before taking title to the property, according to Westside Today.

The agreement between Culver City and CF CC Investor LLC gives the Public Finance Authority until February 2027 to determine whether to move forward with a purchase, the Culver City Observer reported. The property is being evaluated as part of a potential long-term economic development opportunity that could support public parking, recreation, tourism, job creation, new and diversified revenue sources, and future affordable or workforce housing opportunities.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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