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Lenders Begin Sale Process for Los Angeles Television City Studio
Lenders led by Deutsche Bank have started selling Television City after Hackman Capital Partners defaulted on more than $357 million in debt. The studio complex has hosted shows including All in the Family and American Idol.
Jul 11, 3:18 PM·1m read1 source
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Lenders led by Deutsche Bank have begun the sale of Television City, a Los Angeles studio complex owned by Hackman Capital Partners. The lenders are owed more than $357 million, according to the Hollywood Reporter. Hackman bought the property for $750 million from CBS in 2019.
Background on the Property Television City has hosted multiple long-running television programs. Shows filmed there include All in the Family, American Idol, and The Carol Burnett Show. Hackman had planned to expand the site with 980,000 square feet of offices and retail space when it purchased the lot.
Production levels in Southern California have declined.
The COVID-19 pandemic, 2023 writers and directors strikes, and studio financial cutbacks reduced demand for soundstages. Hackman is also selling its Manhattan Beach Studios property, which may be converted to advanced manufacturing use. A Hackman spokesperson stated the studio market is evolving and financing for studio assets remains complex.
The company said it is in active discussions with lending partners. Potential buyers include the owner of a nearby shopping center and the family that operates an adjacent farmers market.
