Brookfield REIT buys Dreamworks HQ campus for $327m

Brookfield REIT has purchased DreamWorks, a 14.7-acre headquarters campus in Glendale, Calif., for $327 million. The seller was LA Hana OW, an entity of Hana Asset Management and OceanWest Capital Partners.

The seven-building, 497,403-square-foot creative office campus is 100 percent leased to DreamWorks Animation, a wholly owned subsidiary of Comcast Corp., through 2035.

“Situated on nearly 15 acres within Los Angeles's thriving media district, the campus is one of the most iconic headquarters destinations in Los Angeles,” said Laura Stumm, senior managing director on Newmark selling team, which announced the sale. “For over 24 years, it has provided DreamWorks with critical recording and animation infrastructure within a lush, park-like environment that invokes inspiration and innovation. The opportunity to acquire a critical media asset of scale is extremely rare, as indicated by the strong interest in this investment."

The property, located at 1000 Flo