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Lenders market $240M mortgage for Hackman’s Manhattan Beach Studios
The South Bay property, a 15-soundstage campus listing is held by Cushman & Wakefield, saw defense tech and aerospace tenants account for 11% of new industrial leases since the start of 2025.
Lenders tied to Hackman Capital Partners are marketing a $240 million mortgage tied to Manhattan Beach Studios, leaning on the South Bay’s defense technology and aerospace growth in their leasing materials, according to Bisnow. The listing is for the 15-soundstage campus, with Cushman & Wakefield Vice Chair Kevin Donner quoted by Bloomberg saying it is a strong fit for advanced manufacturing.
Bisnow notes that Deutsche Bank AG and Kennedy Wilson are the lenders on the property. The South Bay has attracted defense tech and aerospace companies as federal funding for related products has increased, with established tenants including Raytheon and Northrop Grumman, and newer firms such as SpaceX.
The deal backdrop includes Hackman’s 2019 acquisition of Manhattan Beach Studios for $650 million, and the broader studio real estate challenges as interest rates rose and the entertainment industry dealt with strikes and changes to business models, Bisnow said. Newmark data cited by the outlet shows defense and aerospace tenants accounted for 11% of new industrial real estate leases since the start of 2025.
Lenders filed a notice of default in June, and Hackman has not yet returned the property, Bisnow added. The outlet said Hackman is in lease negotiations with more than four potential new tenants and that lenders are also interested in financing the site, according to a Hackman representative cited by Bloomberg.