Developers of Lionsgate-anchored film studio lock down $60M in financing

The developers of a 108,000-square-foot film studio in Yonkers have just locked down $60 million in financing for the $100 million project. Great Point Management Capital and partner Natural Resources closed on a $40 million construction loan from CIT Bank. Great Point Capital’s Robert Halmi told LoHud that it also secured $10 million in Opportunity Zone financing and $10 million in equity. The second phase of the project, to be anchored by entertainment firm Lionsgate, is estimated to cost $40 million. The studio, to be built next to the former Otis Elevator Company building in Getty Square, is expected to provide 420 new jobs in Yonkers, the developers said. They received numerous tax breaks and exemptions to build the project. [LoHud] – James Kleimann