New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CIT Provides Financing for Yonkers Production Studios
CIT’s real estate finance business provided $34 million in financing to a joint venture between i.Park and Great Point Media for the development of the Lionsgate Warburton Studios, an entertainment production facility in Yonkers, NY.
The new studios will consist of 73,000 square feet of studio, office and mill space. It will be the latest addition to the Great Point Studio Campus, a growing entertainment production complex leased to Lionsgate Entertainment Group.
The i.Park campus, which includes production support areas, a café, lounge and outdoor garden terraces, is near the Yonkers Train Station, providing access to New York City and nearby suburbs.
“There is strong demand for entertainment production space on the East Coast, and we’re pleased to provide financing to help meet that demand for the i.Park campus and Lionsgate, a longtime client of CIT,” said Chris Niederpruem, managing director and group head for CIT’s real estate finance business.
- ◦Development
- ◦Financing