Deutsche Bank-led lenders market Hackman Capital's Television City lot
Updated
Updated · Bloomberg · May 1
Deutsche Bank-led lenders market Hackman Capital's Television City lot
10 articles · Updated · Bloomberg · May 1
The lenders are seeking a broker to sell the historic central Los Angeles property, which Hackman bought in 2019 for $750 million and financed with a $350 million mortgage.
The move forces Hollywood landlord Hackman Capital Partners to relinquish a marquee studio asset as entertainment real estate values fall and demand for TV and movie lots stays weak.
Hackman is the largest independent owner of studios and soundstages, making the potential sale a notable sign of stress in the Los Angeles production property market.
Could the forced sale of iconic studios like Television City signal the end of LA's dominance in entertainment production?
As lenders rush to liquidate distressed properties, could new owners or creative uses transform these struggling studio lots?