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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.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Development
