King Street Capital Management, in partnership with Alberta Investment Management Corp., on behalf of certain of its clients and a sovereign wealth fund, has created a joint venture working alongside East End Studios to acquire and develop class A production studios to meet the exploding demand for content creation.
The initial projects include three locations in the greater Los Angeles area with a total capitalization of more than $500 million and projected delivery of approximately 750,000 square feet of stage and related ancillary space.
The partnership will target existing facilities, along with redevelopment and development opportunities, in an effort to consolidate a world-class portfolio of production stages. While the initial projects include two locations in Glendale, Calif., and a third in Downtown Los Angeles, the joint venture is targeting opportunities in other major U.S. film hubs, as well as seeking opportunities in established international markets.