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California  + Office  | 

Hackman Capital Buys Iconic CBS Television City Property for $750M

Los Angeles-based Hackman Capital Partners is acquiring the 25-acre CBS Television City property and sound stage operation in Los Angeles from CBS Corporation for $750 million. The transaction is expected to close by early 2019.

Among the reasons CBS elected to sell to the L.A.-based developer is “Hackman Capital has demonstrated terrific stewardship of classic properties, including their development of the landmark Culver Studios,” says CBS Corp.’s Joseph Ianniello.

CBS acquired the property at Fairfax Avenue and Beverly Boulevard in 1950, though has shifted its primary studio operations to the 40-acre CBS Studios Center in Studio City.

Hackman Capital Partners’ Michael Hackman says, “The acquisition of the legendary Television City will add another crown jewel to our portfolio.”

In Culver City, Hackman also broke ground this week on phase two of The Culver Studios modernization and expansion of media production space from 358,000 square feet to 720,850. Amazon Studios is taking two additional buildings at the campus, bringing its commitment to 530,000 square feet.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Development
  • ◦Sale/Acquisition
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