After defaulting on a $1.85 Billion dollar mortgage on the Radford Studio Center, Hackman Capital Partners is also dealing with foreclosure on the former Sony Animation offices at 9050 Washington Blvd., and putting the Culver Steps up for sale.
The default is part of a ‘domino effect’ following a series of expensive setbacks. On April 21, 2026, the Los Angeles Times reported that Netflix was in negotiations to buy Radford, after Hackman Capital Partners went into default on the loan in January.
Now, HCP is facing foreclosure on on the three-building complex located at 9050 Washington Boulevard, the former home of Sony Pictures Animation. According to a notice of default filed in in April, an entity linked to Hackman owes more than $100 million on a note for the property, originally issued by Goldman Sachs.
According to Westside Today, Hackman and its partner, Affinius Capital, acquired the 200,000-square-foot Art Deco campus in early 2021 for $160 million. But the property sat vacant in 2024 when Sony Pictures Animation relocated to offices on Wilshire Boulevard.
How much Culver City real estate is at play in light of these defaults is not fully known. In September of 2024, Hackman Capital Partners announced that it had formed a “strategic alliance” with Laurie Samitaur Smith, of Samitaur Constructs, to manage the Conjunctive Points Portfolio.
Samitaur holds many architecturally significant properties in the Hayden Tract. The Conjunctive Points Portfolio, owned and developed by Samitaur Constructs for more than 35 years, consists of 26 renowned commercial buildings, totaling approximately 800,000 square feet on 26.7 acres, much of which is located in Culver City.
According to Colliers, Culver City’s office vacancy rate has surged past thirty percent. The continued downturn in creative businesses has also hurt the city’s downtown restaurant scene, with the loss of Akasha last year being directly attributed by the owner to the cutbacks at Sony.
The Culver Steps is fully leased to Amazon Studios and Erewhon, and is reported to be on the market for $150 million.
Judith Martin-Straw
