$230M Refinancing Secured for Lionsgate Studio Yonkers
JLL originated the refinancing, which will allow the borrower to repay a construction loan for phase one of the production complex.
for Lionsgate Studio Yonkers
YONKERS, NY – Connecticut-based developer and owner National Resources has secured a $230 million refinancing for Lionsgate Studio Yonkers, a 500,000-square-foot, state-of-the-art film production complex in Yonkers, NY.
JLL capital markets originated the five-year, fully-extended loan on behalf of the borrower.
National Resources is an investment partner in the studio venture, along with Lionsgate and UK-based, media-focused investment fund Great Point Capital Management.
Phase one of the studio, located at 28 Wells Ave, opened in January 2022. At that time, Great Point Capital Management announced plans for a $500 million expansion to position the facility as the largest modern-built film and television production campus in the Northeast.
The fund will allow National Resources to repay a construction loan for phase one of the production complex.
Once complete, the development will span one million square feet and it will feature 11 soundstages, eight 20,000-square-foot stages, two 10,000-square-foot stages, a 30,000 square-foot stage and parking for more than 750 cars and 100 trucks. The completed facility will feature more than 20,000-square-foot stages on one campus than any other facility in the Northeast.
The JLL capital markets team representing the borrower was led by managing directors Michael Zaremski and Michael Shmuely, VP John Flynn and associate Jimmy Cochran.
“We are pleased to have arranged financing for this ambitious development that will bring new jobs, economic activity and a little bit of movie magic to Yonkers,” says Zaremski. “National Resources has been a leading force in the transformation of some of America’s largest former industrial sites into vibrant workplaces and the company’s plans will benefit Yonkers and the region.”