Germany’s Studio Babelsberg is set to expand following investment from TPG Real Estate Partners (TREP), the real estate arm of the global investment firm TPG.
TREP has agreed a deal to acquire the stake from Studio Babelsberg’s main shareholder, Filmbetriebe Berlin Brandenburg GmbH, which is controlled by Dr Carl L Woebcken and Christoph Fisser, CEO and COO of Studio Babelsberg, respectively.
Woebcken and Fisser will maintain ownership in Studio Babelsberg. The transaction is subject to the satisfaction of several closing conditions.
“On behalf of the management board, we are pleased to welcome and support TREP’s investment in Studio Babelsberg,” said Woebcken and Fisser. “The TREP team’s track record of building and operating high-quality real estate platforms, paired with TPG’s deep expertise and network in the media and entertainment industry, will allow Studio Babelsberg to further its position as a studio of choice in Europe and across the globe.
“Together, we want to expand our operations and secure investments in new technologies and production methods.”
Studio Babelsberg is one of Europe’s biggest studio facilities, with 21 sound stages. Earlier this year it opened the DARK BAY Virtual Production Stage, which includes a revolving stage, allowing the filming of real sets from different angles.