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Market Chatter: Deutsche Bank-led $950 Million US Loans Reportedly Face Default, Foreclosure

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Three Hollywood studios backed by Deutsche Bank (DBK.F) loans amounting to $950 million are currently facing default or foreclosure proceedings, London's Financial Times reported Friday, citing court records and people familiar with the matter.

The German lender provided the loans to Hackman Capital Partners, which invested in Television City and Manhattan Beach Studios in Los Angeles in 2019, and in Kaufman Astoria Studios in New York in 2021, according to the report. Deutsche Bank's retained exposure, however, is lower than the total loan amount, as the majority of the debt was syndicated, the sources added.

Deutsche Bank did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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