With occupancy and demand softening, the world’s largest independent owner of film and TV studios seeks relief on Radford debt

Hackman Capital Partners, the real estate investment firm that owns some of the most iconic studio lots in the U.S., is in advanced talks to restructure a $1.1 billion loan tied to its Los Angeles studio portfolio, including the historic Radford Studio Center, Stagerunner has learned.

The debt, which matured in June, is backed by a combination of securitized and bank loans totaling $710.8 million. As of December 31, the properties were only 61% occupied—a reflection of a broader slowdown in global production that continues to ripple across Hollywood real estate. Sources close to the matter say Hackman is working with a Goldman Sachs–led syndicate to refinance the loan, with a deal expected to conclude soon. The company is reportedly seeking to pay down a portion of the debt on Radford, which it acquired from Paramount Global in 2021.

Radford, located in Studio City, has long been a cornerstone of Hollywood production. Shows including , Seinfeld, Will & Grace, Big Brother and America’s Got Talent have filmed there, and the lot remains a sought-after address despite current market headwinds.

Hackman has outlined a major modernization plan for the site, aiming to revitalize the nearly century-old property for the digital age. But that plan, and others across Hackman’s portfolio, now face pressure amid a decline in production volume. According to industry tracker ProdPro, global film and TV spending dropped 16% in Q2 to $10.4 billion.

In Los Angeles, where Hackman also owns Culver Studios, the MBS Media Campus, and Raleigh Studios, filming activity dipped 6.2% year-over-year in the second quarter, according to FilmLA. A growing number of major productions have opted to shoot abroad, drawn by more favorable tax incentives and lower costs, further impacting demand for U.S.-based soundstage space. However, new film and TV tax incentive programs recently enacted in California and New York could breathe a sigh of relief for studio owners like Hackman. These revamped incentives aim to lure more domestic and international productions back to key U.S. hubs, potentially boosting soundstage occupancy and demand.

In 2022, Hackman raised a $1.6 billion studio fund, much of which remains undeployed. The firm recently refinanced another loan tied to New York’s Silvercup Studios, where series like The Sopranos and Succession were shot. As streamers tighten content spending and producers weigh location strategies more carefully, even legacy studio real estate is navigating uncertain terrain. The outcome of Hackman’s refinancing talks could provide a bellwether for the next phase of Hollywood’s studio economy.