Quixote Studios, which provides premium production services, has been acquired by Hudson Pacific Properties in a deal that is reportedly worth $360 million.
Hudson Pacific Properties owns the Sunset Studios group, which includes three storied lots in Hollywood — Sunset Bronson, Sunset Gower, and Sunset Las Palmas. Sunset Studios is expanding with Sunset Glenoaks in Sun Valley, which will comprise 240,000 square feet including seven sound stages, and overseas into London with Sunset Waltham Cross, which will add 1.2 million square feet and 21 additional stages.
Quixote is known for renting out sound stages, trailers, trucks, lighting equipment, and much more to film, television, and commercial productions. The company’s clients include all five major studios as well as Apple and HBO, among others.
The acquisition is expected to take Quixote’s crew-focused brand to the next level by giving the company more resources and providing more opportunities for growth, while Quixote will help Sunset Studios solve new production challenges in the era of streaming content. Any future changes will be designed to support Quixote’s growth and create new opportunities.
Quixote was founded in 1995 by Mike Elliott, who is expected to stay on in a leadership role. The company currently has 325 employees and over 500 cast trailers, trucks, and specialized vehicles, as well as one of Hollywood’s largest inventories of production equipment. It also holds long-term lease rights to 23 sound stages in Los Angeles in addition to three in New Orleans.
Meanwhile, Sunset operates more than 60 stages across five lots in Los Angeles and the U.K. and has access to more than 1,400 specialized vehicles. Stages are in high demand these days given the influx of content stemming from the rise of streaming services.