Hackman Capital and Square Mile Capital Management are in “advanced talks” to acquire Silvercup Studios. The deal’s total capitalization is said to be around $500 million but details of the joint venture arrangement are still in the early stages and being worked out, according to the Commercial Observer.
- Worth Noting: Silvercup Studios is New York City’s largest film and television production studio, and is owned by Alan and Stuart Suna.
- Spotting a trend: Blackstone Group is in advanced talks to form a venture with Hudson Pacific Properties, the Los Angeles owner of film and television production facilities, in a partnership valued at more than $1.4 billion. The venture would build out the existing studio facilities. Hudson Pacific owns three studio lots and 36 sound stages, which have been used by Netflix for original film and TV production.
- Heard on the Street: Blackstone President Jon Gray: “We’ve also been emphasizing deployment in faster growing sectors over the past several years, which are showing great resiliency in this environment… Key themes include logistics, life sciences, cloud migration and online content creation – all of which are holding up quite well and are expected to outperform.” [CO+WSJ]