Overview
- Netflix is negotiating with Goldman Sachs to buy the 55-acre Radford Studio Center for about $330 million to $400 million, according to reports Tuesday, and the deal is not finalized.
- Goldman took control earlier this year after operator Hackman Capital defaulted on roughly $1.1 billion in debt as stage use dropped and interest costs rose.
- The price under discussion is about one-third of the $1.85 billion paid in 2021, a reset tied to weaker demand, with FilmLA pegging soundstage occupancy near 62% last year.
- A purchase could let Netflix rely less on long Los Angeles leases, including space it rents from Hudson Pacific through 2031, as it builds owned hubs in New Mexico and New Jersey.
- Hackman continues to manage the historic lot, and many tenant leases are due to expire this year, a setup that could smooth a handoff and shape jobs and bookings if a sale closes.