LOS ANGELES — Hileman Cowley Partners has purchased Victory Studios, a 56,547 –square-foot television production and broadcast center in the Los Angeles submarket of Burbank, for $15.3 million.
Telepictures Productions, a division of Warner Bros. Entertainment, currently occupies the studio. The company has occupied the property since 1994. Telepictures produces television shows like Extra, the Ellen DeGeneres Show and TMZ.
Hileman Cowley purchased the existing ground lease and the underlying land. The assets were held by different entities. Mike Guterman and Brad Sevier of Highland Realty Capital arranged a non‐recourse, fixed-rate bank acquisition loan for the transaction. Andrew Burke and Mark Evanoff of Avison Young represented the undisclosed seller.