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Worthe, Stockbridge Close $480M Financing for Warner Bros. Ranch Lot Redevelopment
Worthe Real Estate Group and San Francisco-based investment firm Stockbridge closed on $480 million in financing, kicking off construction on the largest sound stage development in the U.S. Along with 16 sound stages, the 926,000-square-foot studio campus, fully leased to Warner Bros., will also include a parking structure, a commissary, mill space and a 326,000-square-foot office complex on the 30-acre former Warner Bros. Ranch Lot in Burbank.
The financing is the latest step in Worthe Real Estate’s long relationship with Warner Bros. This summer, Worthe and Stockbridge completed Second Century at Burbank Studios, an 800,000-square-foot expansion of Warner Bros. studios.
The redevelopment of the property is part of a larger agreement made in 2019 between Worthe, Warner Bros. and Stockbridge. Warner Bros. will occupy most of the 35-acre Burbank Studios property and expand into the Second Century development, housing approximately 4,500 Warner Bros. employees.
- ◦Development
- ◦Financing
