Netflix poised to buy Radford studio lot at Nov. 24 foreclosure auction
The historic Radford Studio Center in Studio City is set for a foreclosure auction on Nov. 24, and Netflix is expected to be the top bidder, The Hollywood Reporter reported. Netflix had been in talks to buy the 55-acre lot for as much as $400 million, about 22% of what its owner paid in 2021.
AI-assisted · US Brief desk · Sources listed below
What happened
Radford Studio Center, the 55-acre Studio City lot long known as CBS Studio Center, is set for a foreclosure auction at 11 a.m. on Nov. 24 in Pomona, according to a notice of trustee's sale recorded Oct. 28 in Los Angeles County, the Los Angeles Business Journal reported. The date could be postponed. Netflix is expected to come out of the auction as the top bidder, The Hollywood Reporter reported.
Why it matters
Owning Radford would give Netflix its own major production campus in Los Angeles. Today it rents space at Sunset Studios and films at Raleigh Studios, the Reporter said. The steep discount also shows how far L.A. studio real estate has fallen as filming in the region hovers near historic lows.
More context
How it got here: Owner Hackman Capital Partners told investors in January it would hand the lot back to its lenders, led by Goldman Sachs, after falling behind on its loan. Hackman still held title as of the October notice, the Business Journal said. The lot has 22 soundstages; "Gilligan's Island," "The Mary Tyler Moore Show" and "Seinfeld" were filmed there.
The numbers: Hackman paid $1.85 billion for the lot in 2021. Netflix had been in talks to buy it from the lenders for as much as $400 million, about 22% of that price. The lenders are seeking an estimated $1.3 billion at auction, roughly the debt tied to the property, but the final price will likely come in far lower, the Reporter said.
What Netflix says: "The deal is progressing on the agreed upon timetable and with the agreed upon sets of milestone dates," a Netflix spokesperson told the Reporter. A person with knowledge of the situation called it "a done deal."
Why an auction: Netflix did not want to buy the loan and go through foreclosure itself, so it asked Goldman to foreclose, sources told both the Business Journal and the Reporter. One factor was Los Angeles' so-called mansion tax, a 5.5% levy on property sales above $10.9 million, which could have been about $22 million here, according to the Reporter's source. Another source said there are reasons for the structure that "have nothing to do with taxation."
What would change the story: A rival bidder, such as a private equity firm or real estate investor, could push the price above $400 million, the Reporter said. A final sale price and closing date would settle what Netflix pays.
2 listed sources
- The Hollywood Reporter (Winston Cho), Netflix Poised to Buy Radford Studio Lot at Auction for Steep Discount, Nov. 11, 2026
- Los Angeles Business Journal, Scoop: Lenders Set Foreclosure Auction for Radford Studio Center, Nov. 9, 2026
References listed by US Brief; a source count is not a verification score.
Editorial sourcing notes
Auction details come from a notice of trustee's sale as reported by the Los Angeles Business Journal and The Hollywood Reporter. Netflix's statement was given to the Reporter; other deal details come from unnamed sources in both outlets. The final price will be set at auction and could differ. The photo shows a soundstage on the lot when it was called CBS Studio Center (file photo, 2012).
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