Author Topic: Scientology's Hollywood Real Estate Empire - Hollywood Reporter  (Read 809 times)

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Scientology's Hollywood Real Estate Empire - Hollywood Reporter
20 July 2011, 10:42 pm

...The Church of Scientology owns, by most accounts, more historic buildings in Hollywood than any other entity and is one of the community's biggest property owners. Some of its holdings are obvious: The castle-like Celebrity Centre International on Franklin Avenue and the mammoth blue compound on Sunset Boulevard that houses the organization's West Coast headquarters are veritable Los Angeles icons.

In total, the church owns seven historic Hollywood properties worth about $300 million, part of a Hollywood real estate empire of 26 properties, according to real estate experts. It is a portfolio that began to take shape in the early 1970s under the direction of Scientology founder L. Ron Hubbard and continues to grow. These days, a small group of high-level church staffers based here comprises the organization's real estate team and oversees the assets while planning a global expansion.

Over the years, the church has transformed its Hollywood properties -- which include a former luxury hotel, apartment building, church and hospital -- into facilities that house everything from classrooms and chapels to production space, a health spa and an upscale French restaurant. Most recently, in April, the group closed on a $42 million purchase of the historic but ramshackle 4.5-acre KCET Studios on the edge of Hollywood, a complex that dates to 1912 and was once home to Monogram Pictures and Allied Artists. (The church will use it as a center for its various media endeavors.)....

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« Last Edit: July 21, 2011, 17:12 by mefree »
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