Great Point Capital Management, a media-focused investment fund run by Robert Halmi and Fehmi Zeko, has signed a deal with global content producer Lionsgate to build a major new film and TV production facility in Yonkers, New York.
Lionsgate will be a significant investor and long-term anchor tenant of the studio complex and will have naming rights at the new facility.
Construction on the Yonkers site will start this November and the studio will be up and running in late autumn 2020.
The USD100-plus million, full service, modern entertainment complex will include three 20,000-square-feet and two 10,000-square-feet stages, a fully operational back lot and the opportunity to create location-based entertainment properties similar to what Lionsgate has already established in China, the Middle East and elsewhere around the world.
A key investment partner and project developer is National Resources. The company has operated in the New York area for 30 years and has tallied over USD1.5 billion of redevelopment. National Resources has a wide range of experience in design and construction, with projects including automotive dealerships, warehouse facilities, municipal facilities and retail stores. National Resources will be responsible for all phases of design and construction of the studio complex.
The studio complex will be located less than 30 minutes from Manhattan on the Hudson River in downtown Yonkers. It is situated along the newly created Saw Mill River Plaza and next to the new Yonkers train station. The dynamic growth and revitalisation of the city will underpin the value of the new facility and make it the premier tri-state venue for anyone needing production facilities.
“We’re pleased to partner with the Great Point and National Resources teams on a modern film and television production complex that will become a focal point of our content creation initiatives worldwide,” says Lionsgate CEO Jon Feltheimer. “It’s rare to find a studio facility in such a prime New York metropolitan area location, and we look forward to being at the centre of film and television production growth in the region.”
Joseph Cotter, President of National Resources, adds: “The City of Yonkers has been very supportive of Great Point Capital’s efforts regarding the studio facility. The growth and revitalisation of Yonkers as well as its proximity to New York City make it an ideal location for a film studio.”
Adviser to the fund is London-based Great Point Media Group, a diversified media and entertainment company owned by Jim Reeve and Robert Halmi (who will also be an investor in the new studios). 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.
