CIT’s real estate finance business provided $34 million in financing for a joint venture between i.Park and Great Point Media for the development of Lionsgate Warburton Studios, an entertainment production facility in Yonkers, NY.
The new studios will be the latest addition to the Great Point Studio Campus, a growing entertainment production complex leased to global content leader Lionsgate Entertainment Group.
“We’re pleased to add the Lionsgate Warburton Studios to the i.Park Hudson Studios development,” Joseph Cotter, president of i.Park, said. “We’ve partnered with CIT since the beginning of this transformational project and appreciate their continued support as we expand our premium production space at the Yonkers Campus.”
The i.Park campus includes production support areas, a café, lounge and outdoor garden terraces. It is also conveniently located near Yonkers Train Station, providing easy access to New York City.
“We’re grateful for the opportunity to work with the teams behind i.Park Hudson Studios,” Chris Niederpruem, managing director and group head for CIT’s Real Estate Finance, said. “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.”
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