Carlyle Realty Partners, the US property arm of The Carlyle Group, has reportedly acquired Manhattan Beach Studios, a soundstage and office complex south of Los Angeles, for $150 million (€113 million). The seller was Los Angeles-based private investment firm Oaktree Capital Management.
“We like the business,” Carlyle principal Ed Samek told The Los Angeles Times. “Our goal is to improve the studio and continue to invest in it.”
Located on Rosecrans Avenue in Manhattan Beach, the property has been home to television programs like Ally McBeal, The Practice, CSI: Miami, Boston Legal and The OC. The lot is currently managed by Raleigh Enterprises and has been used by Twentieth Century Fox, Warner Brothers, Paramount, Sony, DreamWorks, Touchstone Pictures, Columbia Pictures and Miramax for the production of movies like Pirates of the Caribbean, Almost Famous and Panic Room.
Shamrock Holdings, the private equity firm chaired by Roy Disney, developed the studio, which houses 14 stages, eight production offices and a four-story office tower on 22 acres of land. At the time of its opening in 1999, it was reportedly the first new studio facility built in Los Angeles County for more than 50 years. Shamrock sold the complex to Oaktree in 2004 for approximately $100 million.