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Home Studios DreamWorks

DreamWorks Campus Sold Yet Again

Alissa Roy by Alissa Roy
July 24, 2015
in DreamWorks, News
Reading Time: 1 min read
7
DreamWorks Animation Reveals New Lineup For 2017 and Beyond

Dreamworks-Studio-Space-Clouds-Logo-Wallpaper
Just five months after the DreamWorks Animation campus in Glendale had been sold, it has been sold yet again, going for $30 million more than it did five months ago.

The residency deal allows DreamWorks to remain a tenant on the Tuscan-style property in a 20-year lease, paying an annual rent of $13.2 million with a rising 1.5% interest each year. The contract can be renewed every 5-years.

The initial sale of the campus was a part of DreamWorks’ plans to restructure the company after the loss of 500 jobs and shutting down their main PDI/DreamWorks Studio. The campus initially sold for $185 million in February to SunTrust Banks, Inc. Griffin Capital Essential Asset REIT then purchased it for $215 million. DreamWorks was able to gain 50% of the $30 million profit, splitting it with SunTrust.

The struggling studio had a $54.8 million loss when the first quarter period was announced on March 31, 2015. We will soon find out about Quarter 2 on August 4. Hopefully, the profits from this resale will help the company.

DreamWorks has been in upheaval, struggling with finances. Do you think that they will pull through?

Edited by: Kelly Conley

Tags: dreamworksdreamworks animation
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Alissa Roy

Alissa Roy

Alissa is a student at the Rochester Institute of Technology, studying Media Arts & Technology. Her hometown is in the Middle-of-Nowhere, NY, where winter is approximately 6 months of the year. She is extremely nerdy, and loves all things animated, literary, or Harry Potter related. Her older sister spawned her love of animation by dragging her downstairs at 2 a.m. every morning and making her watch various films until their parents took them back to bed. Some of her all-time favorite films include Mulan, The LEGO Movie, Up, Tangled, and The Lion King. She also collects old Peanuts comic strips, and spends her free time reading, writing for the Rotoscopers, and working a variety of jobs. You can follow Alissa on Instagram and Twitter: @ThisAlissa. See her work here.

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