Hackman Capital Partners plans $1b L.A. studio redevelopment

Hackman Capital Partners and The MBS Group have plans for a $1 billion modernization to the Radford Studio Center complex in the San Fernando Valley.

The studio, which opened in 1928, produces dozens of productions each year, which has included The Mary Tyler Moore Show, Gilligan’s Island, Seinfeld, Will & Grace and That ’70s Show, along with CBS News’s Los Angeles bureau, KCAL9 News and Entertainment Tonight. The renovation includes the addition of approximately 1 million square feet for 20 to 25 soundstages, as well as production office and support facilities, and general office space. Once operational, Radford Studio Center is expected to generate $5.5 billion annually in new economic output and support an estimated 8,070 direct jobs on site.

ViacomCBS (now Paramount Global) sold the facility to Hackman Capital Partners and Square Mile Capital Management for $1.85 billion in 2021.