Brookfield Properties has entered the rapidly expanding content creation powerhouse in Hollywood with the acquisition of the iconic DreamWorks headquarters. The seven-building, Glendale, Calif., property commanded $327 million. It incorporates a 497,000-square-foot creative office campus that is 100% leased through 2035 to DreamWorks Animation — a wholly owned subsidiary of Comcast Corporation.

Sellers Hana Asset Management and Ocean West Capital Partners were represented by Newmark Co-Head of U.S. Capital Markets, Kevin Shannon; Vice Chairman, Alex Foshay; Executive Managing Directors Ken White and Rob Hannan; and Senior Managing Director, Laura Stumm.

Located at 1000 Flower St., the property features landscaped courtyards; rivers and koi ponds; an on-site commissary; a 165-seat theater; a motion capture studio; a recording studio; green rooms; a medical clinic; a library; and a helipad.

“This opportunity combined many of the investment themes currently driving successful office market trades in Los Angeles,” Shannon said. “This DreamWorks HQ opportunity offered credit, weighted average lease term, and a content creation tenant with studio space, which resulted in extraordinary interest — as shown by nearly 30 separate buyer tours.”

Stumm added: “Situated on nearly 15 acres within Los Angeles’ thriving media district, the campus is one of the most iconic headquarters destinations in Los Angeles. For over 24 years, it has provided DreamWorks with critical recording and animation infrastructure within a lush, park-like environment that invokes inspiration and innovation. The opportunity to acquire a critical media asset of scale is extremely rare, as indicated by the strong interest in this investment.”

Ever-increasing demand for original content has spurred a windfall of capital from large institutional investors into studio real estate, The Real Deal reports. In turn, this has also resulted in streaming service providers holding longer leases, which has further contributed to investors’ comfort with owning properties in this asset class. Moreover, a significant increase in greenlit productions has resulted in a scarcity of available studio space on the Los Angeles commercial real estate market and beyond.

Last year, Brookfield courted the acquisition of Blackhall Studios — one of Atlanta’s largest filming hubs — which was ultimately sold to Los Angeles-based private equity firm Commonwealth Group. The completed purchase of DreamWorks’ headquarters marks Bookfield’s first major foray into the studio market.