Cleary Gottlieb represented Goldman Sachs in the origination of a $900 million mortgage loan to affiliates of Blackstone in the financing of a portfolio of movie studios and associated office properties located in Los Angeles, California.
The portfolio consists of five office properties and three movie studio properties, with Netflix Inc., It’s a Laugh Productions Inc. (owned by Disney Channel Worldwide), and ABC Studios as the largest tenants.
The transaction closed on July 30, 2020. The loan is expected to be securitized in August 2020.