(EDITOR’S NOTE: According to sources with knowledge of the transaction, the property was sold for $92.5 million, or approximately $490 per square foot.)
San Francisco, Calif. – Swift Real Estate Partners (“Swift”), a vertically-integrated real estate investment manager and operating company headquartered in San Francisco, announced today it has completed the acquisition of Reframe Studios in Los Angeles, CA.
Reframe Studios, located at 4561 Colorado Boulevard, is an adaptive reuse/industrial conversion to soundstage and creative office space located in the Atwater Village neighborhood of Los Angeles.
Atwater Village, one of LA’s most vibrant creative communities, is well-positioned between Hollywood, Burbank and Glendale and benefits from its proximity to exceptional talent and best-in-class film/television production support services.
The project consists of two buildings on 7.3-acres totaling 188,662 square feet, with direct accessibility to the I-5 freeway. The North Building is on a 12-year lease to Fremantle, an international media production company best known for shows such as American Idol and The Price is Right. The vacant South Building, consisting of approximately 146,000 square feet, will be repositioned into a modern, fully-amenitized studio that includes two 21,000 square foot state-of-the-art sound stages as well as accompanying mill, production support and office space. The stages feature 36’ clear heights and have been slated for delivery in mid to late 2023.
“We are excited about the acquisition of Reframe Studios. Media and entertainment companies’ continued investment in original programming has led to outsized demand for soundstage space within the LA region. Reframe Studios will offer tenants a best-in-class studio experience in the heart of LA’s media core,” said Thomas Christman of Swift Real Estate Partners.
About Swift Real Estate Partners
Founded in 2010, Swift Real Estate Partners is headquartered in San Francisco, and has regional offices in Orange County, Portland, the San Francisco East Bay and the Silicon Valley. Swift is a vertically integrated real estate investment firm which seeks to generate superior risk-adjusted returns for its partners. Swift acquires and repositions office and industrial assets in select West Coast markets, identifying unique opportunities and executing well-defined business plans while providing real-time, day-to-day oversight for each investment. Since inception, Swift has owned and operated real estate valued in excess of $4 billion across more than 10 million square feet. Swift is currently investing on behalf of its third institutional investment vehicle, Swift Fund III. Swift’s professionals bring experience encompassing all aspects of real estate investment and management, including acquisition, financing, leasing, disposition, construction management, property management and marketing services.
