Netflix is in active talks to snap up the historic Radford Studio Center in Studio City, eyeing a price in the neighborhood of $330 to $400 million, according to people familiar with the discussions. The deal is not done yet, but if it lands, it would represent a jaw-dropping markdown from the $1.85 billion paid for the same campus just five years ago, after a lender takeover earlier this year set the stage for a sale.
As reported by the Los Angeles Times, Netflix is negotiating with the bank that seized the 55-acre Radford lot to buy the campus. Goldman Sachs, which took control after the previous owner defaulted, is said to be in talks to sell the property in the $330 million to $400 million range. Representatives for Hackman Capital Partners and Netflix declined to comment, according to the Times.
Bloomberg previously reported that Hackman Capital Partners defaulted on a roughly $1.1 billion mortgage and handed the property to a lending group led by Goldman Sachs in January, triggering the sale process. That transfer effectively unraveled Hackman’s 2021 purchase of the 55-acre campus for about $1.85 billion, a figure that now looks worlds apart from the numbers being floated in the current talks.
What's on the lot
Radford is a busy, multi-stage complex that has long been a Valley workhorse, with more than 20 soundstages, mills, backlots, and office space. The lot has hosted everything from silent-era Mack Sennett comedies to television staples like Seinfeld and Gilligan’s Island. According to the studio’s own site, the property offers extensive support facilities and office inventory that appeal to long-running series and network operations, including on-lot facilities used by local broadcasters. The Radford Studio Center website details the campus amenities and stage lineup available to production companies.
Why the price looks so low
Industry watchers say the steep discount reflects a broader slowdown in Southern California production following the 2023 writers and actors strikes, along with higher interest rates and intensifying competition from cheaper filming hubs. The Real Deal reported that Goldman Sachs hired Eastdil Secured to market the property, and noted that vacancies plus looming lease expirations across a large portion of the campus have dragged down its valuation.
What comes next for Studio City
Any deal would still have to survive due diligence and final negotiations, and there is no public timeline for a closing. As the Los Angeles Times notes, representatives for the parties involved have declined to comment on the negotiations. Local station KTLA reports that it has reached out to Netflix for additional information. For now, Studio City is left watching to see whether one of its most famous lots ends up under the Netflix banner.
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