Hackman Capital Buys 70% Stake in Raleigh Studios

Hackman Capital continues to invest in studio real estate as the firm has expanded its Hollywood, CA footprint with the $140 million purchase of a 70% stake in Raleigh Studios. Hackman also bought a 30% stake in Saticoy Studios in Van Nuys, CA for an undisclosed amount.

According to LA County records, the Raleigh deal closed just before Christmas on the 500,000-square-foot property, and a $90 million loan was provided by Bank of the West on behalf of the buyer. Investment firm Raleigh Enterprises was the seller in the transaction.

Raleigh Studios consists of 13 soundstages and approximately 185,000 square feet of office space. A couple of the productions filmed at the studio on Melrose Avenue include Tim Allen’s “The Santa Clause” and Steve Carell’s Netflix show “Space Force.”

Culver City, CA-based Hackman Capital also plans on building a large development in Television City, featuring soundstages, office space and ground-floor retail.