T
he Dolby Theatre, home of the Oscars, has been sold after spending a year on the market. JEBS Hollywood Entertainment, led by producer Elie Samaha, acquired the 3,400-seat venue at 6801 Hollywood Boulevard for approximately $50 million, according to Avison Young. This is significantly lower than its original construction cost of $94 million in 2001 and below the expected sale price of around $70 million when it went on the market in October 2023.

    The property, which includes two adjacent parking lots and spans 180,000 square feet, has hosted the Academy Awards for over two decades. The seller was CalPERS, a public pension fund. JEBS Hollywood Entertainment is an unusual group of investors, comprising former Sony Pictures President Jeff Sagansky, Sheikh Abdulla Bin Mohamed Al Qasimi, Sherwin Jarol, Jonah Lazowski, and Two Girls Holdings.

    Castellan Real Estate Partners provided a $27 million loan to finance the purchase, with Slatt Capital's Antonio Hachem, Cornelius Baliukonis, and Wendy Wang arranging the financing. Elie Samaha, who also owns Grauman's Chinese Theatre on the Hollywood Walk of Fame, has experience operating theaters and had previously expressed interest in buying the Dolby Theatre.

    Avison Young's Christopher Bonbright described JEBS as an "ideal synergistic owner-operator" in a statement. JLL's Will Poulsen and Peter Hajimihalis represented CalPERS and its real estate manager Canyon Partners, along with Muhlstein CRE's Carl Muhlstein.