The Lantana Entertainment Media Campus in Santa Monica, a 463,000-square foot studio production and creative office complex comprising four buildings on a 12-acre site, has been purchased by the Houston-based private real estate investment firm The Lionstone Group.
The landmark Lantana, previously owned by Maguire properties, is one of the largest entertainment properties on Los Angeles’ Westside. The complex is currently home to such prominent entertainment industry companies as IMAX Corporation, NBC Universal Television, Dick Clark Productions and Revolution Studios.
Tom Bacon, founding partner of The Lionstone Group, believes the acquisition is not only a strategic move, but also underlines the company’s commitment to the entertainment and real estate communities, as well as its ongoing green design and innovation initiatives.
“We are confident in the recovery of the West Los Angeles-Santa Monica sub-market, and Lionstone’s purchase of Lantana Center further demonstrates our confidence,” said Bacon. “At Lionstone, preserving the authenticity and unique character of each property is a priority, and we plan to continue to evolve our portfolio and amenities to deliver a strategic mix of adaptive reuse, LEED-certified, and architecturally creative properties.”
Lionstone purchased the Lantana Campus as part of Lionstone Urban Investments Two, a $400-million fund that acquires real estate assets in high-amenity urban areas, company executives said. The addition of Lantana increases Lionstone’s coverage of creative and adaptive reuse properties in the West Los Angeles area to over one million square feet and represents its sixth property along Santa Monica’s media and technology corridor.
Lionstone’s active ownership of the campus will continue to build on the market-leading tenant experience at Lantana, executives said.
“We are committed to insuring that Lantana retains its status as the premier address for entertainment and creative firms on Los Angeles’ Westside,” Bacon said.