Hudson Pacific Properties Creates Unified Production Complex in Hollywood
Hudson Pacific Properties, Inc. (the “Company”) (NYSE: HPP) owners of the 100-year old Sunset Gower and Sunset Bronson Studios in Hollywood, have announced the acquisition of the adjacent music recording studios of Ocean Way Recording Hollywood. The famed recording studios will remain untouched, top staff and equipment in place, as upgrades to the lounges and common spaces undergo significant upgrades.
Howard S. Stern, President and Director of Hudson Pacific Properties, commented, “It’s with great pride that we announce this strategic alliance of our legendary film and TV studios and soundstages with arguably the most honored music recording studios in the world. This combination of cutting edge visual production with the epitome of music recording is a monumental day for Hollywood.”
Allen Sides, founder and former President of Ocean Way Recording Hollywood, added, “Our standards of recording have never been matched by our peers and we could not have found a better successor to continue Ocean Way Hollywood’s legacy as the premier recording studio in the world.” Sides will continue to provide his technical and sonic expertise to the ongoing studio operations. The acquisition agreement between Sides and the new owners does not involve his other enterprises, which include Record One Studios, Ocean Way St. Barth’s, Ocean Way Nashville, Ocean Way Audio and Ocean Way Drums.
About Ocean Way Recording, Hollywood
Ocean Way Recording is the world’s most awarded studio complex, responsible for record sales of more than one billion units. Ocean Way began as United Studio, founded in 1957 by legendary recording engineer and electronics inventor Bill Putnam with the backing of Bing Crosby and Frank Sinatra. In 1985, it was renamed Ocean Way by Putnam’s partner, Allen Sides, who had begun his studio career on Ocean Way in Venice, 1977. The original control rooms and recording spaces have remained virtually the same, retaining the classic untouched acoustic design favored by artists ranging from Sinatra, Nat King Cole, and Ray Charles to modern hitmakers such as The Rolling Stones, Green Day, Dr. Dre, U2 and The Red Hot Chili Peppers.
About Sunset Gower Studios
Located at 1438 N. Gower St. in Hollywood, Sunset Gower Studios sits on approximately 15.6 acres in the heart of Hollywood. It includes 12 soundstages and is home to Technicolor and production for several companies, including NBC Universal, ABC Studios, Showtime and HBO. Hudson Pacific Properties, Inc. acquired Sunset Gower Studios in 2007.
About Sunset Bronson Studios
Sunset Bronson Studios is a 10.6 acre media and entertainment campus located in the heart of Hollywood, California. Sunset Bronson is a multi-use property with 11 soundstages and a full complement of production, post-production and support facilities. The property serves as the home of KTLA, one of the largest independent television stations in Los Angeles.
About Hudson Pacific Properties
Hudson Pacific Properties, Inc. is a full-service, vertically integrated real estate company focused on owning, operating and acquiring high-quality office properties and state-of-the-art media and entertainment properties in select growth markets primarily in Northern and Southern California. The Company’s strategic investment program targets high barrier-to-entry, in-fill locations with favorable, long-term supply-demand characteristics in select target markets, including Los Angeles, Orange County, San Diego and San Francisco. The Company’s portfolio currently consists of approximately 5.5 million square feet, not including undeveloped land that the Company believes can support an additional 2.0 million square feet. The Company has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Hudson Pacific Properties is a component of the Russell 2000(r) and the Russell 3000(r) indices. For additional information, please visit:
http://www.hudsonpacificproperties.com
