Dolby Theatre, Home of the Oscars, Sells to Elie Samaha’s Company

Hollywood’s Dolby Theatre, the home of the Academy Awards ceremony, has been sold to Jebs Hollywood Entertainment, led by Elie Samaha.

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The acquisition of the 3,400 seat theater was announced Tuesday by real estate brokers Avison Young, which represent the buyer. Jebs is led by Samaha, a longtime producer who has invested heavily in Hollywood entertainment, dining and nightlife destinations, and Sherwin Jarol, former Sony Pictures. Entertainment president Jeff Sagansky, Jonah Lazowski, Two Girls Holdings and Sheikh Abdulla Bin Mohamed Al Qasimi through his investment firm, Master Investment Group. The company also owns the TCL Chinese Theatre, adjacent to the Dolby, and Yamashiro restaurant, which it listed with Avison Young earlier this year.

Financial details were not disclosed, but The Real Deal said the deal was reportedly for $50 million. The Academy had no immediate comment.

The Oscars have been held at the Dolby since 2002. The theater hosts live events year-round with upcoming events including Los Angeles Ballet’s “Cinderella” and “The Nutcracker” and “Avatar: The Last Airbender” in concert. The acquisition also includes two surface parking lots.

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The buyer was represented by Avison Young principal and managing director Chris Bonbright, while the seller was represented by Will Poulsen, and Peter Hajimihalis of JLL, and Carl Muhlstein of Muhlstein CRE. Castellan Real Estate Partners provided the debt financing, which was arranged by Slatt Capital led by Antonio Hachem, Cornelius Baliukonis and Wendy Wang.

“The new ownership intends to continue its association with the Academy Awards while significantly increasing the number and variety of live performances, including many renowned Latin and other international acts at the fabled Dolby Theater,” Bonbright said in a statement. “Through its long-term and highly successful operation of the Chinese Theater, Jebs Hollywood Entertainment is an ideal synergistic owner-operator of this world-famous entertainment venue.”

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