Developers of Lionsgate-anchored film studio lock down $60M in financing

Tri-State /
Apr.April 08, 2020 01:41 PM
Rendering of the Lionsgate studio (Credit: Yonkers IDA/Lohud)

Rendering of the Lionsgate studio (Credit: Yonkers IDA/Lohud)

The developers of a 108,000-square-foot film studio in Yonkers have just locked down $60 million in financing for the $100 million project. Great Point Management Capital and partner Natural Resources closed on a $40 million construction loan from CIT Bank. Great Point Capital’s Robert Halmi told LoHud that it also secured $10 million in Opportunity Zone financing and $10 million in equity. The second phase of the project, to be anchored by entertainment firm Lionsgate, is estimated to cost $40 million. The studio, to be built next to the former Otis Elevator Company building in Getty Square, is expected to provide 420 new jobs in Yonkers, the developers said. They received numerous tax breaks and exemptions to build the project. [LoHud] – James Kleimann


Related Articles

arrow_forward_ios
Stonington is one of the areas that DesegregateCT would like to rezone. (Getty)
Connecticut reformers turn up heat on housing segregationists
Connecticut reformers turn up heat on housing segregationists
(iStock, Wikipedia Commons)
Nassau County homeowners shocked by new tax bills
Nassau County homeowners shocked by new tax bills
Photos from the 60s of John Steinbeck and his poodle Charley on their property. (Getty)
Sag Harbor pessimistic on preserving Steinbeck retreat
Sag Harbor pessimistic on preserving Steinbeck retreat
Amazon's Jeff Bezos with 1770 Walt Whitman Road (Getty, Google Maps)
Amazon plans Melville fulfillment center as it expands across LI
Amazon plans Melville fulfillment center as it expands across LI
A rendering of the facility at 1029 Newark Avenue in Elizabeth, Fidelco chairman Marc Berson and Elberon Development Group chairman Ann Evans Estabrook (Photos via JLL, Fidelco and Elberon)
Cold storage facility in New Jersey gets $34M loan
Cold storage facility in New Jersey gets $34M loan
Atlantic City, New Jersey (iStock)
Atlantic City home prices rising on demand from Philly
Atlantic City home prices rising on demand from Philly
An aerial of the project site at 1205 Majors Path in North Sea (Photo via Google Maps)
Southampton demands EIS for contentious condo project
Southampton demands EIS for contentious condo project
Weee CEO & Founder Larry Liu and 174 Delawanna Avenue (Linkedin, Google Maps)
Online grocer Weee inks 220K sf lease in Clifton
Online grocer Weee inks 220K sf lease in Clifton
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...