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Netflix is under contract to buy the Radford Studio Center, a 55-acre production facility in Studio City, Los Angeles, from Goldman Sachs. The deal would give the streaming giant one of Hollywood’s most storied studio lots at a price that makes the previous owner’s investment look like a cautionary tale in commercial real estate.
The acquisition price is expected to land around $330 million. That’s roughly 82% less than the $1.85 billion that Hackman Capital Partners paid for the property when it bought it from ViacomCBS in 2021.
How Goldman Sachs ended up selling a Hollywood studio
Hackman Capital Partners acquired the Radford lot in 2021 at the peak of a streaming-fueled production boom, taking on approximately $1.1 billion in mortgage debt to finance the purchase. The subsequent rise in interest rates, coupled with low studio occupancy rates after recent labor strikes, led to significant operational pressures that prompted Hackman to default on its primary loan. Goldman Sachs repossessed the property in January 2026.
The Radford lot has hosted productions ranging from Seinfeld to Gilligan’s Island over its decades of operation.
The price gap between Hackman’s $1.85 billion purchase and Netflix’s expected $330 million acquisition tells a story about what happens when overleveraged real estate bets collide with shifting market conditions.
Why Netflix wants to own more studios
The 55-acre Radford lot is a fully built-out production campus with decades of infrastructure investment already baked in. For Netflix, acquiring it at roughly $330 million means getting a facility that would cost multiples of that amount to build from scratch, particularly in one of the most expensive real estate markets in the country.
What this means for investors
A property selling for roughly 18 cents on the dollar compared to its 2021 transaction price is a data point that should make anyone holding entertainment-adjacent real estate a little nervous. The Hackman default and Goldman’s willingness to sell at this discount suggest that studio lot valuations inflated during the 2020-2021 streaming spending boom have not recovered.
Netflix’s willingness to deploy capital on physical assets signals confidence in its long-term content strategy. For shareholders, that’s a meaningful shift from a company that historically operated as an asset-light technology platform.
As of early June 2026, no official confirmation of the deal’s completion has emerged, though multiple entertainment news outlets indicate negotiations are in their final stages.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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