Manhattan Beach Studios Sold
Manhattan Beach Studios, where movies and television shows including “CSI: Miami” and “The O.C.” are filmed, has been sold by Shamrock Holdings of California Inc. to a Los Angeles investment banking firm.
Oak Tree Capital Management Co. paid close to $100 million for the 22-acre facility on Rosecrans Avenue, real estate sources said. Oak Tree oversees billions of dollars in pension funds and is a principal investor in the nearby Playa Vista mixed-use development. A company representative declined to comment on the transaction.
Burbank-based Shamrock, the private investment vehicle for the Roy E. Disney family, built the studio at an estimated cost of $82 million. The property, completed in 1999, has 14 soundstages totaling 287,000 square feet. It includes eight production office buildings that range in size from 22,500 square feet to 25,500 square feet and Media Center, a 60,000-square-foot office building.
Tenants at Media Center include Skateboard World Industries Inc., the Assn. of Volleyball Professionals Inc. and television producer David E. Kelley’s Kelley Productions Inc.
Kelley has been the most high-profile tenant at the studio, where he has produced such hit series as “Ally McBeal,” “Boston Public” and “The Practice.” He is filming “Boston Legal,” an ABC drama set in a quirky law firm, there.
The sale of Manhattan Beach Studios will allow Shamrock to concentrate on managing its four investment funds, said spokesman Clifford Miller. “Our hold time for a property is generally four to six years,” he said. “We have reached that point.”
Santa Monica-based Raleigh Enterprises, which also operates Raleigh Studios Hollywood, will continue to manage the property.
Movies filmed at the studio include “The Pirates of the Caribbean,” “Daredevil,” “Almost Famous” and “Panic Room.”