Why is Goldman Sachs taking over the Radford Studio Center?

Goldman Sachs is leading a takeover because Hackman Capital Partners defaulted on a $1.1 billion mortgage for the historic studio lot.

What famous shows were filmed at the Radford Studio Center?

The Radford Studio Center is a historic lot where shows like "Gilligan's Island" and "Seinfeld" were filmed.

What factors contributed to Hackman Capital Partners' loan default?

The loan default was influenced by a downturn in production, rising interest rates, and lease expirations at the Radford Studio Center.

Home / Business and Economy / Hackman Defaults on $1.1B Loan for Historic Radford Lot

Hackman Defaults on $1.1B Loan for Historic Radford Lot

14 Jan

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Summary

Goldman Sachs leads a takeover of Radford Studio Center after loan default.
The historic lot, once home to Seinfeld, is now returning to lenders.
Production downturn and rising interest rates impacted the studio's finances.

Hackman Defaults on $1.1B Loan for Historic Radford Lot

Goldman Sachs Group Inc. is spearheading the takeover of the Radford Studio Center, a historic Los Angeles landmark, following Hackman Capital Partners' default on a $1.1 billion mortgage. This pivotal move returns the property, once the site for iconic productions like "Seinfeld," to its lenders after months of unsuccessful loan modification negotiations. The studio, appraised at $1.8 billion in 2021, struggled as revenue covered only about 21% of its debt servicing costs as of June 30, 2025.

The Radford Studio Center's financial difficulties are symptomatic of a broader downturn in Los Angeles's vibrant entertainment industry. Declining production days, exacerbated by the 2023 writer and actor strikes and ongoing studio consolidation, have strained operations. Hackman Capital Partners acknowledged the challenging landscape in a December letter, stating they would cooperate with lenders in transitioning the property while focusing on other assets.