According to Variety, ViacomCBS has agreed to sell the Southern California studio lot which hosted iconic productions like“Seinfeld,” “The Mary Tyler Moore Show,” and Gilligan’s Island.”
The deal, which is valued at $1.85 billion, involves a partnership formed by Hackman Capital Partners and Square Mile Capital Management.
The lot sits on more than 1 million square feet of space and includes 22 stages, a production office, and support buildings.
“This sale is part of an ongoing optimization of ViacomCBS’s real estate and operations portfolio and will allow the company to redeploy capital to strategic growth priorities, including streaming,” CFO Naveen Chopra said in a statement.
The origins of the CBS Studio Center date back to the silent-film era, when a movie studio was erected on the site in 1928.
In July, ViacomCBS sold CBS’s New York headquarters, the Black Rock skyscraper, for $760 million to real estate investment firm Harbor Group International.
Hackman Capital Partners currently owns four studios in the L.A. region, along with facilities in New York, New Orleans, London and Scotland.
