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Hackman Affiliate Buys Vancouver Cos. With Soundstages in Bet on Production Real Estate

Vancouver Film Studios Served As Home To 'Deadpool' Movie
Some of the operations for Vancouver Film Studios are located at 3500 Cornett Road in Vancouver, Canada. (CoStar)
Some of the operations for Vancouver Film Studios are located at 3500 Cornett Road in Vancouver, Canada. (CoStar)
CoStar News
July 3, 2023 | 11:03 P.M.

The world's largest independent owner of film and studio space is getting bigger.

An affiliate of Hackman Capital Partners, based in Los Angeles, has bought Vancouver Film Studios and its related companies for an undisclosed price, according to a statement. Vancouver Film Studios has 13 soundstages in Vancouver, Canada, alongside construction mills and office space. The soundstages have served as the location for film and TV shows including "Deadpool," "The Flash" and "Yellowjackets."

The seller was Vancouver-based investment firm McLean Group, according to the statement.

Michael Hackman, founder and CEO of Hackman Capital Partners, said in the statement that Vancouver has a "burgeoning global production market." In 2021, Hollywood studios spent a record $4.8 billion across greater Vancouver, according to the Vancouver Economic Commission.

That said, studio space usage has fallen quiet in Vancouver and across the U.S. since May 2 due to an ongoing Writers Guild of America strike. When the strike ends, production real estate demand is expected to heat up as companies race to make up for lost shoot days.

Hackman is the latest firm to beef up its soundstage portfolio during the strike, a sign of long-term confidence in the real estate sector. Last month, Hudson Pacific Properties, a real estate investment trust based in L.A., revealed plans to build roughly 130,000 square feet of entertainment-related space in Hollywood.

Hackman's acquisition also comes after the firm said in October it raised $1.6 billion to expand its portfolio of media production properties. The Vancouver deal adds to Hackman's more than $10 billion in assets under management, according to its website. The company has invested in more than 330 properties, totaling roughly 37 million square feet, since it was founded.

A representative for Hackman didn't respond to an emailed request to comment from CoStar News.

For the Record

Jefferies was the financial advisor to VFS in the transaction.

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