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CIT Arranges $40M Debt for Yonkers Studio Project

Great Point Capital Management (GPC) and National Resources closed a $40-million loan with CIT to complete the financing of Great Point’s first construction project, a major film and television studio complex at i.Park Hudson in Yonkers, NY.

The loan is the last step before construction begins on the 100,000-square-foot production center, which GPC and partner National Resources are building for global content leader Lionsgate.

Adviser on the deal is London-based Great Point Media Group, a diversified media and entertainment company owned by Jim Reeve and Robert Halmi. It has provided investment and arranged financing for more than 50 production companies, with clients including Lionsgate, Netflix, Amazon, Hulu, Google, Sky, BBC, ITV, Universal, AMC, Hallmark, Sony and Paramount.

“CIT is a leader in community-driven projects, and our financial support for this development will help bring jobs and revenue into Yonkers at a critical time,” said CIT CEO Ellen Alemany.

Connect With CIT’s Alemany


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Development