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Hackman Capital Partners

Hackman Capital Partners owns The Culver Studios. Lock, stock, and data

The Challenge

In 2014 Hackman Capital took on two large, culturally fraught projects; a massive upgrade of film industry icon The Culver Studios, and their first-ever groundup build—a mixed-use marvel called The Culver Steps. HCP soon realized their longtime owner/operator processes could benefit from a construction based platform to drive these complicated twin projects.

The Solution

Procore’s configurable, cloud-based platform brought clarity to the complexity of The Culver Steps and The Culver Studios construction projects, providing cross-project transparency, clear “ball-in-court” notifications, and standardized processes—all but eliminating costly missteps.

The Results

“Procore’s platform is a central location for all of the shared documents, making everything so much easier to access and track. It helps make the project more transparent.”
Larisa Eichacker, Project Manager
Hackman Capital Partners

Hackman Capital Partners and The Culver Studios

When private investment group Hackman Capital Partners purchased Culver City’s famous namesake, The Culver Studios, there was a murmur of anxiety among the California town’s locals. Birthplace of classics ranging from Gone with the Wind and Citizen Kane to X-Men: First Class, the 100-year-old studio in the center of town was considered by Culverites (as they’re regionally known) to be the beating heart of the city itself. Hackman Capital’s plans at purchase were to not only modernize and reinvigorate the century-old dream factory, but to preserve its legacy. Significantly, Hackman Capital had taken on an adjacent sister project in the heart of the city—a stunning 115,000 sq ft, mixed-use, park-like architectural showpiece called The Culver Steps. That project would be Hackman Capital’s first wholly-built construction project, a brilliant new “ground-up” addition to their 30 plus years of investing and operating.

arial view of building mockup

Project Silos: Gone with the Wind

The transparency of Procore’s configurable, cloud-based platform opened up cross-team work-flows, communications, and crystal clear ball-in-court notifications—bringing an integrated clarity and order to Hackman Capital’s first-ever ground-up development project. “In terms of all of the data that’s available through the platform—the RFIs & submittals—we’re able to really look at problems that come up; we’re able to isolate them,“ Project Manager Larisa Eichacker explains. “And the ability to have the real-time financial data more readily accessible and all the nuanced reporting that’s available through Procore—that piece of it is super helpful to us.”

mockup of exterior building

Owning the Project, Inside and Out

Hackman Capital is accustomed to owning buildings; that has been their bread-and-butter for more than 30 years. What is newer to them is total ownership of the deep project data Procore gathers and organizes in real time along the build’s life cycle. “The ability to own the project data, especially in one central location, saves time for our entire team and is important not only during the course of the project but also for future purposes,” explains PM Eichacker. “Owning the data means we can easily access it to estimate potential needs for future developments. It also will provide continuity and consistency of processes for all new developments.”

About Hackman Capital Partners

Hackman Capital Partners is a privately-held real estate investment and operating company based in Los Angeles. Launched in 1986, Hackman Capital has invested more than $4B in 35M square feet across 41 states. An early pioneer of repurposing industrial properties into fashionably designed, tenant-compelling creative office space—Hackman Capital Partners has helped cities vibrantly reclaim onceneglected urban space.

Location

Los Angeles, CA

Primary Industry

Real Estate Owner And Developer

Project Type

Redevelopment, Ground-up Development

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