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.
Radford, where series such as Seinfeld and Gilligan’s Island were filmed, was founded in 1927 when silent film producer Mack Sennett opened the facility at Ventura Boulevard and Radford Avenue. The studios…
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