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Hudson Pacific sells Hollywood studio shares to Blackstone



Hudson Pacific sells Hollywood studio shares to Blackstone

Los Angeles developer Hudson Pacific Properties Inc. said Monday it would sell a 49% stake in its three historic studios in Hollywood to affiliated New York investment firm Blackstone in a deal that valued the property at $ 1.65 billion.

Transactions include Sunset Bronson, Sunset Gower and Sunset Las Palmas studio, which holds 35 stages or 1.2 million square feet of production and supporting space in Hollywood.

Included in the agreement are five office buildings in the studio premises or nearby with a combined total of nearly 1 million square feet. Netflix’s streaming entertainment service is the largest tenant, with a commitment to rent more than 700,000 square feet of space.

Hudson Pacific will retain a 51% shareholding and remain responsible for daily operations, leasing, and future development. Hudson Pacific has the right to develop an additional 1.1 million square feet at Sunset Gower and Sunset Las Palmas.

The joint venture with Blackstone “opens up part of the value we make to our shareholders and gives us significant capital to grow our studio and office portfolio, including the development of additional development rights in our existing studio,” Hudson Pacific Chief Executive Victor Coleman said.

Hudson Pacific’s predecessor company, Hudson Capital, bought Sunset Gower and Sunset Bronson in 2007 and 2008, respectively, in a period of increasing demand for stable stages because old studios have joined new streaming services such as Amazon Studios, Apple TV + and Netflix make films, television shows and other forms of recorded entertainment.

Hudson Pacific bought Sunset Las Palmas Studios in 2017, where he built a $ 79 million office building called Harlow after actress Jean Harlow, a 1930s screen siren who had worked in a parking lot.

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Harlow was included in a transaction with Blackstone along with office buildings known as Icon, Cue, Epic and 6040 Sunset, also known as Technicolor Building.

“Our business is driven by thematic investment in sectors with strong secular attractors, and there is no better example of content creation in Los Angeles,” said Ken Caplan, global co-head of Blackstone Real Estate.

Funds affiliated with Blackstone Property Partners will make acquisitions that are expected to close in the third quarter.

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Portuguese historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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