Northmarq’s Newport Beach office arranges $29.5M acquisition of Henson Studios in Los Angeles, CA
LOS ANGELES (Jan. 27, 2025) — Northmarq’s Newport Beach Debt + Equity team led by Managing Director Joe Giordani, Senior Vice President Scott Botsford and Vice President Matt Radich successfully secured a $29.5 million acquisition loan for Henson Studios, an 80,000-sq.-ft. studio located at 1416 N. La Brea Ave. in Hollywood, California. The property is one of the oldest movie studios in Hollywood.
Northmarq arranged the acquisition bridge loan on behalf of the borrower, Alta West Partners LLC, through a national lender relationship. The transaction was structured with a four-year term, full-term interest only, and max 67% loan-to-cost ratio.
“This was a unique and challenging assignment, due to the operating business, office, and sound studio components,” said Botsford. “We are excited about the successful outcome and to see this historic real estate take on a new life.”
Located on the corner of N. La Brea Avenue and De Longpre Avenue, the studio served as Charlie Chaplain Studios from 1917 to 1953 and was purchased by the Jim Henson Company in 1999. The site was designated as a Los Angeles Historic-Cultural Monument in 1969. The recent purchasers included musician John Mayer, who will continue the tradition of hosting many notable artists for the recording of songs, albums and videos at the studios.
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