Television City heads toward sale after loan default

What's happening

Television City, the 25-acre studio campus at 7800 Beverly Boulevard in the Fairfax District, is moving toward a sale. A Deutsche Bank-led lender group filed a notice of default in June 2026, alleging owner Hackman Capital Partners owes more than $357 million on the property. Hackman and partner Affinius Capital bought the lot from CBS for $750 million in 2019.

The Los Angeles City Council approved Hackman's modernization plan in January 2025, a $1.25 billion project that would have grown the site to about 1.74 million square feet of soundstages, offices and support space with a 2028 target. Commercial Observer reports the redevelopment appears stalled. Rick Caruso and the Gilmore family have been named as potential bidders, according to the Los Angeles Times as cited by Commercial Observer.

• Size: 25 acres; approved plan of about 1.74M SF
• Developer: Hackman Capital Partners with Affinius Capital
• Location: 7800 Beverly Blvd., Fairfax District, Los Angeles
• Status/Timing: Approved January 2025; notice of default filed June 2026; sale expected
• Cost: $1.25 billion planned redevelopment; more than $357 million alleged owed

What it means for owners, tenants and investors

This is Hackman's second major studio default in 2026; Goldman Sachs took control of Radford Studio Center earlier in the year, and that lot is under contract to Netflix for about $400 million against a $1.9 billion purchase price. Hackman cited high production costs and uncompetitive tax incentives. Studio valuations in Los Angeles are being reset, and an entitled site may attract buyers at a lower basis.

An entitled 25-acre Los Angeles studio site may change hands at a reset price as studio distress spreads.

What to watch

Who buys the property, at what price, and whether a new owner keeps the approved studio plan or pursues a different use under the existing entitlements.

Imagery: Google Earth.