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Hackman/Square Mile Partnership Acquires Kaufman Astoria Studios
Already partners in the world’s largest studio investment venture, Hackman Capital Partners and Square Mile Capital Management have grown their portfolio by acquiring the historic Kaufman Astoria Studios in Queens. While terms of the sale weren’t disclosed, published reports say the sellers were considering bids of around $600 million.
Opened in 1920, Kaufman Astoria Studios was the original home of Paramount Pictures. The campus contains more than 500,000 square feet of production space, more than 325,000 square feet of production offices and support space, and New York City’s only studio backlot.
Craig Solomon, CEO of Square Mile Capital, said, “The acquisition of the legendary Kaufman Astoria Studios by our investment partnership is another huge step forward as we continue to build a portfolio of iconic studio properties. As demand for facilities and production services surges, we will continue to seek more opportunities to serve the growing content marketplace.”
- ◦Sale/Acquisition
