A bank is set to take over ownership of an historic Los Angeles TV and film studio because the current owner has defaulted on the $1.1 billion loan, as Hollywood continues its collapse.
Goldman Sachs is reportedly on the verge of taking control of the famous Radford Studio Center in Studio City, California, because Hackman Capital Partners (HCP) can’t seem to come up with the cash to stay current on its mortgage, according to The Wrap.
Mayor Karen Bass and City Council President Paul Krekorian join union workers and leaders to celebrate a construction labor agreement with Radford Studio Centers modernization and expansion plan on Tuesday, January 30, 2024 at the Studio City studio. (Sarah Reingewirtz/MediaNews Group/Los Angeles Daily News via Getty Images)
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