Historic studios to sell for more than $200 mil
Sunset Gower Studios is being sold to commercial real estate firm Hudson Capital and an unnamed partner by GI Partners for more than $200 million.Hudson, which is headed by real estate veteran Victor Coleman, outbid several other parties for the 16-acre site, where movies have been shot for the past eight decades. The property was acquired by Harry Cohn in 1920 and became home to Columbia Pictures four years later. “It Happened One Night,” “Mr. Smith Goes to Washington,” “From Here to Eternity” and “Funny Girl” were all shot there. Sunset Gower, which contains 13 soundstages and a nearly completed six-story office tower, was marketed as a redevelopment opportunity with entitlements for at least 381,000 square feet of additional development. GI bought the property in 2004 from Pick-Vanoff Co.