LOS ANGELES-A large broadcast production studio here has been acquired by World Class Capital Group of Austin, TX. The 109,000-square-foot studio is home to Playboy's broadcast activities and other productions helmed by Encompass Digital Media Inc.
The purchase price for the facility was pegged by industry sources at $25 million. Karlin Real Estate Lending, a bridge loan provider, enabled the World Class purchase with $20 million in financing to facilitate the acquisition of 3030 Andrita St., also known as Andrita Studios.
Built in 1925, the former industrial and office complex was converted into a “plug and play,” high-definition media facility in 2002. The facility is 100% occupied by Encompass, which provides broadcasters, cable networks, corporations and government entities with customized solutions for the management and distribution of content. Playboy is a tenant at the facility.
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