Culver Steps — 2024 refinancing, 2026 sale marketing, and City property negotiations

A documented financing-to-sale-to-municipal-negotiation chain for The Culver Steps at 9300 Culver Boulevard. SEC disclosure identifies HC 9300 Culver LLC as borrower and Hackman Capital Partners as sponsor/non-recourse carveout guarantor for a $75 million 2024 whole loan, with Deutsche Bank and Wells Fargo as lenders. In 2026 Hackman Capital Partners and Affinius Capital retained Newmark to market the property for sale. Culver City's June 22 and September 14 closed-session agendas then listed 9300 Culver Boulevard in negotiations with Michael Hackman / Hackman Capital Partners over terms and price. A September 15 report quoting City Attorney Heather Baker's public report-out states that the City determined it would not pursue acquisition of 9300 Culver Boulevard / Culver Steps. City Manager and CPFA Executive Director Odis Jones’s October 7, 2026 statement adds direct City confirmation that staff evaluated a CPFA acquisition beginning in the spring, completed due diligence and financial analysis, and decided not to move forward because acquisition was not in the CPFA’s best interest "at this time." He identified value, financial feasibility, risk, and long-term implications as review criteria and said other investment opportunities would continue to be evaluated.