Great Point Capital Management has signed a deal with Lionsgate to build a new production facility in Yonkers, NY, with Lionsgate becoming a long-term anchor tenant and investor.
As anchor tenant, Lionsgate will have naming rights to the studio. Construction on the site will start in November, and the facility will be running in late autumn 2020.
The $100 million 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 a location-based entertainment property. Lionsgate has already established similar properties in China and the Middle East.
Great Point is a media-focused investment fund run by Robert Halmi and Fehmi Zeko. National Resources will be an investment partner and project developer, responsible for all phases of design and construction of the studio complex.
The studio complex will be located on the Hudson River in downtown Yonkers along the newly created Saw Mill River Plaza and next to the new Yonkers train station. It’s about 30 miles north of Manhattan. Lionsgate is a minority investor.
“We’re pleased to partner with the Great Point and National Resources teams on a modern film and television production complex that will provide a great home for many of our content creation initiatives,” said 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 center of film and television production growth in the region.”
The fund is advised by London-based Great Point Media Group, which is owned by Jim Reeve and Halmi. It has provided investment and arranged financing for more than 50 production companies, with clients including Netflix, Amazon, Hulu, Lionsgate, Google, Sky, BBC, ITV, Universal, AMC, Hallmark, Sony and Paramount.
Lionsgate posted revenues and operating income above Wall Street projections in its most recent quarter amid growth from premium cabler Starz and a strong performance from “John Wick: Chapter 3.” Lionsgate also reported revenue of $963.6 million for the quarter, which ended June 30.