HISTORY IN THE MAKING
Pacifica Ventures traces its roots back to 1982, when it was founded for the purpose of participating in several major real estate and entertainment industry acquisitions. In the 1990’s, the Company made a turn into the field of entertainment when it formed Pacifica Media Affiliates, an innovative leader in post-production sound that merged the operations of 9 sound postproduction studios and eventually became Technicolor Sound Services...
The Pacifica Ventures Story
Pacifica Ventures has a two-decade history of success in the film and television facilities industry. Pacifica has continually been able to acquire, on a reoccurring basis, production commitments from major, publicly traded, and independent providers of world class media content (i.e. Universal, Disney, Marvel, Columbia, Sony, MGM, Relativity, Lionsgate, CBS, ABC, HBO, etc.), enabling them to produce the finest film and television product in the world on Pacifica's stages (i.e., The Avengers, The Lone Ranger, Breaking Bad, Independence Day Resurgence and many more). The confidence that Pacifica has earned from the major industry players is rooted in its unique ability to: 1) consistently understand the intricacies of the ever-changing global “media industry incentive model”; 2) aggressively address the design and development of state of the art facilities; 3) ability to deliver its technologically advanced buildings much faster and with highly competitive pricing (i.e. 30% to 40% less than antiquated concrete and steel structures); 4) stabilize cash flows relatively quickly; 5) and last but not least, support the creation of expertly trained regional production personnel (“crews”) who are able to produce films like The Avengers. Cities, counties and states continue to add the capital stack by providing grants, tax credits, film incentives, bonds, TIFF’s (tax increment financing), brownfield’s, and economic grants to Pacifica’s projects, all with the idea to add to a much-needed employment base. Pacifica Ventures traces its roots back to 1982, when it was founded for the purpose of participating in several major real estate and entertainment industry acquisitions. In the 1990’s, the Company made a turn into the field of entertainment when it formed Pacifica Media Affiliates, an innovative leader in post-production sound that merged the operations of 9 sound postproduction studios and eventually became Technicolor Sound Services. In 2004, Pacifica acquired The Culver Studios from SONY Pictures Entertainment. The purchase included the TCSOB office campus facility directly across from the studio for total in excess of a $100 million. Element Pacifica then built the animation building for Sony Image Works and managed The Culver Studios 14 large sound stages, 200,000 sq. ft. of production office, and extended facilities for over 30 major productions in three years, generating in the third-year gross revenues of over $50 million. During this period Pacifica designed and built over 50,000 sq. ft. of new class-A office space on The Culver Studios Lot.
Pacifica then moved on to New Mexico to build a brand-new facility: ABQ Studios, which included 8 state-of-the-art large sound stages on 28 acres. ABQ Studios went on to become the home of some of the largest and most successful film and television productions in the United States (many SONY productions), including the award winning Breaking Bad! The Company’s strategy of being involved in developing and operating state-of-the-art, fully integrated live action and digital visual effects production facilities in key tax-incentivized markets, coupled with educational facilities was clearly a “right idea at the right time” concept, and this was borne out by the significant production success of its studios in Albuquerque, New Mexico and Philadelphia, Pennsylvania. During this time, Pacifica has designed several major studio facilities, won several RFP’s and bidding competitions, and its stages have supported over 200 major productions generating over $5 Billion in gross revenues. The Company’s studio facilities and services are available to all producers of media content. Its primary clients are the major Hollywood studios, a group that today includes the six internationally publicly held media conglomerates, i.e. Sony, Fox, Paramount, Warner Bros., ABC/Disney and NBC/Universal, and “mini-majors” such as Lionsgate, and now the streaming giant, Netflix: well-financed production companies with significant Hollywood ties but without their own distribution channels. Albuquerque Studios was opened in June 2007 at a cost of $94 million. The 366,000 sq. ft. facility consists of eight of some of the largest connected soundstages in North America plus office space, back lot space, mill, storage and set-construction space, post-production suites, and the full spectrum of production support services, all situated on a 28-acre campus setting. In its nearly fifteen years of operation, Albuquerque Studios has hosted such major films as Marvel’s The Avengers, Disney’s The Lone Ranger, Warner’s Terminator Salvation, the Denzel Washington thriller The Book of Eli, Frank Miller’s cutting-edge, 100% green-screen production of The Spirit, as well as six seasons of Sony Television’s Emmy-award winning series Breaking Bad. ABQ Studios also hosted the first season of NBC’s In Plain Sight as well as several other productions such as Arnold Swartznegager’s The Last Stand. It became the home of AMC's Better Call Saul and NBC's Nightshift, and in 2015 hosted FOX's Independence Day Resurgence as well as Netflix’s Day Break and Sony’s Green Brier, as well as NBC’s Midnight Texas. On November 9th, 2018 the sale of ABQ Studios to Netflix was completed, making ABQ Studios the first real estate asset ever acquired by the giant streaming service. The sale of ABQ Studios to Netflix is a crowning achievement that has been recognized by the industry.