From Los Angeles Business Journal · staff-author · · 1m 20s
Lenders Set Radford Studio Center Foreclosure Auction
Goldman Sachs leads lenders in Nov. 24 foreclosure auction of Radford Studio Center after Netflix failed to buy the property.
In brief
Goldman Sachs leads lenders in Nov. 24 foreclosure auction of Radford Studio Center after Netflix failed to buy the property. Lenders set foreclosure auction for Radford Studio Center to recover $1.3 billion debt after Netflix abandoned a $400 million deal. Originally reported by Los Angeles Business Journal.
Lenders Schedule Foreclosure Auction
Lenders led by Goldman Sachs scheduled a Nov. 24 foreclosure auction of Radford Studio Center, the 55-acre Studio City lot.
Radford Studio Center Details
Culver City-based Hackman Capital Partners bought the lot for about $1.85 billion in 2021, with lenders seeking $1.3 billion.
Auction Date and Location
First American Title Insurance Co. will auction the property at 11 a.m. in Pomona's Civic Center Plaza courtyard, but the date could be postponed.
Netflix Deal Abandoned
Netflix had previously agreed to buy Radford for close to $400 million but abandoned the deal to avoid foreclosure.
Hackman's Financial Strain
Radford's net operating income dropped to $15.6 million in 2025, covering just 19% of debt payments after a $1.1 billion loan.
Lenders Claim Default
Goldman recorded a notice of default on Jan. 8, claiming $1.2 billion in unpaid debt after Hackman failed to repay the loan.
Consequence for Investors
Holders of the securitized portion of the debt could lose about $253 million if Radford sells for $400 million.
What to remember
Lenders set foreclosure auction for Radford Studio Center to recover $1.3 billion debt after Netflix abandoned a $400 million deal.
