Ted Sarandos And Greg Peters Of Netflix Acquire 55-Acre Radford Studio Center From David M. Solomon For $400M

The 55-acre Radford Studio Center located at 4024 Radford Avenue in Studio City, CA, is under contract for a transaction amount of $400 million. The asset spans 1,100,000 square feet, equating to a price per square foot of $364. This acquisition reflects the current market conditions affecting studio properties.

Summary of transaction details:

• Property Type: Special Purpose
• Transaction Amount: $400,000,000
• Buyer: Ted Sarandos & Greg Peters - Netflix
• Seller: David M. Solomon - Goldman Sachs
• Market: Studio City, CA
• Acres: 55
• Square Footage: 1,100,000
• Price Per Square Foot: $364

This deal involves prominent figures in the industry, with Ted Sarandos and Greg Peters representing Netflix, while David M. Solomon represents Goldman Sachs. The transaction comes after a period of loan default and weak occupancy under the previous owner, Hackman Capital Partners, highlighting ongoing challenges in the studio sector as streaming production experiences a slowdown.