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Transactions - MAY 4, 2021

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Bain Capital Real Estate submits plans for $450m L.A. development

by Andrea Zander

Bain Capital Real Estate, the real estate investing business of Bain Capital, and BARDAS Investment Group, a boutique real estate development and investment firm, have submitted plans to the City of Los Angeles to invest $450 million to develop Echelon Studios, a five-acre site at 5601 Santa Monica Blvd.

The new, urban studio campus will feature four 19,000-square-foot sound stages, a 15,000-square-foot flex stage, and a 90,000-square-foot creative village of high-end bungalows uniquely located above the bustle of Hollywood.

Bain Capital Real Estate and BARDAS IG formed a joint venture in 2019 to pursue opportunities to acquire, renovate, develop and operate creative office and other production space targeted to companies in the content and media industry, with a focus on the key content submarkets in Los Angeles. To date, the joint venture has invested in and has a pipeline of existing and new development projects encompassing approximately 1.0 million square feet, ra

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