DreamWorks’ Glendale Campus Sold for 290 Million to South Korean Investors
The luxurious Tuscany-style campus has been handed over by Griffin Capital to a South Korean investor Hana Asset Management, partnering with Los Angeles Ocean West Capital Partners. It was only last year that this 15-acre animation palace was acquired by NBCUniversal for $3.8 billion and made it a part of Universal Filmed Entertainment Group.
Hana Asset Management has $5 billion in assets across Europe, the Americas and Asia, making them as South Korea’s one of the largest financial firms.
In July, the same investors Hana Asset Management alongside with Los Angeles Ocean West Capital Partners bought Washington’s Two Independence Square – the NASA headquarters for $360 million. With a lease commitment from the space agency until 2028, this definitely is a wise investment for both firms.
And with 16 years remaining on DreamWorks’ lease, the DW Animation Campus made it desirable to both firms, said Kevin Shannon, real estate broker of Newmark Knight Frank and the one who helped arrange the DW deal. He added, “This is another example of Asian capital targeting Los Angeles for direct investment,”.
DreamWorks Animations Campus was built in 1997 which serves as the showplace of the DreamWorks SKG entertainment empire, launched by Hollywood leading lights David Geffen, Steven Spielberg and Jeffrey Katzenberg.
This massive property has five buildings with a total combined size of 460,000 square feet. Aside from trail of oaks that surround the whole area and numerous offices, it features a fitness center, commissary, streams and a koi pond, now that’s what you call grandeur!
The campus remained as the home for DreamWorks Animation in 2004 when it moved forward and became a separate company. At this same time, they produced the franchises “Kung Fu Panda,” “Shrek,” and “How to Train Your Dragon”. And definitely, the campus will continue to be their headquarters under the new landlords.