Glendale, the city in the California, has a very luxurious Tuscany-style campus of the DreamWorks Animation. This campus has been sold to the South Korean investors for 290 Million Dollars.
Last year, the animation company was acquired by the Comcast Corp.’s NBCUniversal. They bought it for 3.8 Billion Dollars and will retain to own the property, which is completely spread with the oaks and also has a koi pond.
In the year 1997, the campus was built as a point of attraction for the DreamWorks SKG. This entertainment empire was set up by the famous Hollywood celebrities David Geffen, Steven Spielberg, and Jeffrey Katzenberg.
The property that is located at 1000 Flower St. can sweep away anybody. It consists of 5 buildings surrounded by a 460,000 square feet space, has a fitness center, a commissary, and also includes many offices.
The credit for the movie franchises such as How to Train Your Dragon, Shrek, Madagascar, and Kung Fu Panda goes to the DreamWorks Animation. The animation company became an independent company in the year 2004 and it was led by Katzenberg. But, the initial years were hard as the movies didn’t work out well; thus, they sold the campus in the year 2015 for 185 Million Dollars and then they rented it back.
The property was bought again a few months later by the trust Griffin Capital Co. for 215 Million Dollars which was sold again to Ocean West Capital Partners and Hana Asset Management for 290 Million Dollars.
To tell about Hana Asset Management, it is one of the biggest financial groups in South Korea. It has assets worth 5 Billion Dollars under management in the regions such as Americas, Asia, and Europe. Ocean West is an asset manager that is based in Los Angeles and invests in the apartments and offices.
Earlier, a group which was led by Hana Asset Management and Ocean West Capital Partners, had bought the Two Independence Square in Washington in the month of July for 360 Million Dollars.
The lease by the DreamWorks is remaining for 16 years and thus the campus is attracting many buyers. Katzenberg had earned about 400 Million Dollars from the studio sale to Comcast, since then has left the DreamWorks Animation and has started a Beverly Hills investment fund.