Los Angeles-- Karlin Real Estate Lending has provided Austin, TX-based real estate investment firm World Class Capital Group with $20 million in financing to facilitate the acquisition of 3030 Andrita Street, a 109,000-square-foot broadcast and post production facility in Los Angeles.
Built in 1925, the former industrial and office complex was converted into a “plug and play,” high definition media facility in 2002. Commonly referred to as Andrita Studios, the facility is 100 percent occupied by Encompass Digital Media Inc., which provides broadcasters, cable networks, corporations and government entities with customized solutions for the management and distribution of content. Situated on a four-acre site near San Fernando Road and the Glendale (2) Freeway, Andrita Studios is one of the largest broadcast facilities in the U.S.Andrita Studios houses an MPAA auditedstate-of-the-art digital media center;climate-controlled tape vaults; three production stages, edit and audio suites and 63,000 square feet of office space.
“There is significant demand for production and post production space in Los Angeles, said Larry Grantham, Managing Director of Real Estate Lending. “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."
Karlin Real Estate Lending (http://www.karlinre.com/index.html), a Los Angeles-based Bridge Lender backed by $1.5 billion in long-term equity capital, has deployed more than $200 million in senior and mezzanine financing for the acquisition and refinancing of opportunistic and transitional real estate assets throughout the United States. Karlin Real Estate Lending is the lending arm of Karlin Real Estate, an affiliate of private investment firm Karlin Asset Management.