Regions

World Class Capital Group receives funding for Andrita Studios acquisition

Close
July 18
1:19 AM 2013

World Class Capital Group, a Texas-based properties investment firm, received US$20 million in financing from Karlin Real Estate Lending. The financed capital will be used for World Class Capital Group's acquisition of 3030 Andrita Street in Los Angeles. 3030 Andrita Street is a 110,000 square foot post production and broadcast center and considered to be one of the biggest studios in the US. It is frequently called as the Andrita Studios.

While currently a high definition media center, Andrita Street was built in 1925 as industrial and office complex. It was transformed to what it is today only in 2002. The studio is, at present, completely occupied by Encompass Digital Media Inc. Encompass provides cable networks, broadcasters, government and corporate entities with tailored services and distribution of content.

"There is significant demand for production and post production space in Los Angeles. This was an opportunity to help an institutional sponsor with a history of outperforming the market seize an opportunity to acquire a state-of-the-art broadcast and post-production facility in the global center of the film and entertainment industry," explained a senior executive at Karlin, Larry Grantham. 

© 2022 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics