Hollywood’s Dolby Theatre, the home of the Academy Awards ceremony, has been sancigo in to Jebs Hollywood Entertainment, led by Elie Samaha.
The acquisition of the 3,400 seat theater was declared Tuesday by authentic estate brokers Avison Young, which recontransient the buyer. Jebs is led by Samaha, a extfinishedtime producer who has spreaded heavily in Hollywood amengagement, dining and nightlife destinations, and Sherthrive Jarol, createer Sony Pictures. Entertainment plivent Jeff Sagansky, Jonah Lazowski, Two Girls Hancigo inings and Sheikh Abillogicala Bin Mohamed Al Qasimi thcdisesteemful his spreadment firm, Master Investment Group. The company also owns the TCL Chinese Theatre, adjacent to the Dolby, and Yamashiro restaurant, which it cataloged with Avison Young earlier this year.
Financial details were not disseald, but Bloomberg alerted last year the theater could sell for up to $70 million and shelp the Academy’s decrease runs to 2028. The Academy had no prompt comment.
The Oscars have been held at the Dolby since 2002. The theater arranges inhabit events year-round with upcoming events including Los Angeles Ballet’s “Cinderella” and “The Nutcracker” and “Avatar: The Last Airbfinisher” in concert. The acquisition also integrates two surface parking lots.
The buyer was recontransiented by Avison Young principal and managing honestor Chris Bonluminous, while the seller was recontransiented by Will Poulsen, and Peter Hajimihalis of JLL, and Carl Muhlstein of Muhlstein CRE. Casalertan Real Estate Partners provided the debt financing, which was arranged by Slatt Capital led by Antonio Hachem, Cornelius Baliukonis and Wfinishy Wang.
“The new ownership intfinishs to persist its association with the Academy Awards while meaningfully increasing the number and variety of inhabit carry outances, including many famous Latin and other international acts at the fabled Dolby Theater,” Bonluminous shelp in a statement. “Thcdisesteemful its extfinished-term and highly accomplished operation of the Chinese Theater, Jebs Hollywood Entertainment is an perfect synergistic owner-operator of this world-well-understandn amengagement venue.”
