Culver City Secures $103M Option to Buy Former Sony Pictures Campus After Fortress Foreclosure

The City of Culver City has obtained an exclusive option to purchase the former Sony Pictures campus at 9050 Washington Boulevard for $103 million, following Fortress Investment Group's foreclosure on the property earlier this year. The Culver City Council and Public Finance Authority approved the purchase agreement, setting a price of approximately $520 per square foot for the vacant, three-building, 198,000-square-foot creative office campus. The city must exercise the option by late February 2027 and has placed a $375,000 deposit. Fortress acquired the $100 million loan from Goldman Sachs three years ago and took ownership through foreclosure after previous owner Hackman Capital Partners defaulted on approximately $104 million in unpaid debt. The $103 million price tag falls below the roughly $160 million Hackman paid in 2021 but exceeds the $71 million credit bid that transferred control to Fortress. Culver City is considering redevelopment of the site, according to the Culver City Observer.