PSP Investments signs a memorandum of understanding for a ground lease with Hackman Capital Partners
MONTREAL and LOS ANGELES, June 30, 2021 / PRNewswire / – The Public Sector Pension Investment Board (âPSP Investmentsâ), one of from Canada largest retirement investment managers, today announced that it has signed a Memorandum of Understanding (“MOU”) with Hackman Capital Partners (“HCP”), a private real estate investment company, operating company and owner of The MBS Group, for a long period – term land lease at Downward view to the northwest Toronto, Canada, where HCP (or an HCP joint venture) will build a leading film and television production studio.
With growing demand for entertainment content and demonstrating its confidence in the industry as a source of growth and value, PSP Investments is engaged in the content creation and film and television production industry. In 2019, she announced a joint venture (“JV”) with HCP, Square Mile Capital Management, USAA and Teacher Retirement System of Texas for an investment in the new campus developed by HCP from Amazon Studios in Culver City, California and the MBS Media Campus at Manhattan Beach, California. The JV also acquired a minority stake in Television City Studios in Los Angeles and invested in The MBS Group, the largest provider of studio and production equipment in North America and the UK which provides all studio resources and infrastructure necessary for content production, including consulting services, studio design / development, training, technology incubation, management and operational oversight.
“PSP Investments is delighted to enter into this partnership which reinforces our focus on content creation and the opportunities that nurture and drive innovation,” said Kristopher wojtecki, Managing Director, Real Estate Investments, PSP Investments. “Hackman Capital Partners is the world’s leading independent owner and operator of film and television properties, and we are proud to partner with Michael hackman, CEO, and the team in support of an industry that attracts nearly $ 2 billion every year at Toronto. Additionally, the studio will take an innovative approach to sustainable design that goes beyond City of Toronto Green Standard Version 3, Tier 2 – further demonstrating how PSP places sustainability at the center of its investment strategy. ”
âWe are proud to continue our partnership with PSP Investments as we expand our presence in Canada; this new state-of-the-art film and television production facility will create thousands of new direct and indirect jobs thanks to an investment of approximately 200 million Canadian dollars,” noted Michael hackman, CEO of Hackman Capital Partners. âSubject to the approval of city officials, our long-term plan calls for over one million square feet of production and support space, with sound stages ranging from 20,000 square feet to 80,000 feet. squares, with the aim of creating jobs and strengthening local and domestic creativity. investments in the sector while reaffirming the city’s stature as one of the world’s leading destinations for film and television production. “
Located in the North York District of Toronto, the grounds of Downsview Airport cover approximately 370 acres. It is surrounded by world-class research and innovation centers and benefits from proximity and connectivity to public transport and highways. Northcrest Developments, a wholly owned subsidiary of PSP Investments, will be directly involved in the integration of all future developments into Downward view.
âThis plan will not only create thousands of jobs in film and television, but it will open the door to a new hub of media, technology and innovation in Downward view on which we can build and grow for years to come, âsaid Christophe Eby, Executive Vice President, Northcrest Developments.
About PSP Investments
PSP Investments is one of the from Canada the largest retirement investment managers with approximately 204.5 billion dollars from net assets to March 31, 2021. It manages a diversified global portfolio of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Founded in 1999, PSP Investments manages net contributions to the pension funds of the Federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Based at Ottawa, PSP Investments has its principal business office in Montreal and offices at new York, London and Hong Kong. For more information, visit investpsp.com or follow PSP Investments on Twitter and LinkedIn.
About Hackman Capital Partners and the MBS Group
Founded in 1986, Hackman Capital Partners is a privately owned, fully integrated operating company focused on the purchase, renovation and reimaging of studios, commercial, industrial and other legacy properties. Situated at Los Angeles, HCP has invested more than $ 6.8 billion in properties spanning over 36 million square feet and over 400 buildings in 41 states. HCP is the largest independent studio owner and operator with 8 studios featuring over 70 sound stages, 35 additional sound stages slated for development, and nearly 5.0 million square feet of space.
The MBS Group, which is at the forefront of production innovation and technology, is a collection of companies that provide content creators with a comprehensive list of services, including equipment, management and management solutions. studio, logistics and production planning for dynamic and ever-changing environments. landscape of the world of physical production. The company covers the range of physical locations for film, television and new media production services. The MBS group exclusively serves more than 40 studios and more than 350 sound stages around the world.
Together, with more than 800 employees, HCP and The MBS Group operate a global studio and media platform with assets at a capitalized cost of approximately $ 4.3 billion. The platform acquires and maintains leading studios, media facilities and related real estate opportunities in major production markets around the world. The HCP / MBS platform is a fully built and integrated global network of experienced professionals and studio staff with the capabilities to acquire, develop, build, deliver production infrastructure and equipment, logistical support, to operate and manage studios.
HCP’s studio and media portfolio includes: The Culver Studios, the historic 14.3-acre downtown film and television studio Culver city this is the new home of Amazon Studios; Television City Studios, the iconic former CBS broadcast facility on 25 acres in the heart of West Hollywood; MBS Media Campus, a 22-acre state-of-the-art production facility in Manhattan Beach, California; Silvercup Studios, one of that of New York the most iconic studios covering 10.4 acres; Second Line Stages, the only production facility specially designed for New Orleans, Louisiana; Eastbrook Studios London, which when completed will be the largest studio in City of London; Studios Saticoy in Van Nuys, California and Raleigh Studios at Hollywood, California.
For more information, visit www.hackmancapital.com.
SOURCE PSP Investments