Yonkers Film Studio Portfolio Secures $435M Refinancing
A joint venture between National Resources, Great Point Studios Operations, and Lindsay Goldberg has secured a $435 million refinancing for the Hollywood on the Hudson film studio portfolio in Yonkers. The floating-rate loan from Bank of Montreal, Starwood Mortgage Capital, and Bank of America replaces previous debt totaling $376.8 million while funding tenant improvements and equity returns. The 719,943-square-foot portfolio is nearly fully leased at 98.9%, with Lionsgate Studio Corp., the anchor tenant, occupying over half (52.5%) of the space under a lease signed in 2022. The deal reflects strong demand for suburban film and TV production real estate near New York City. The refinancing highlights broader trends where older industrial spaces are being repurposed into soundstages to reduce costs and speed up development timelines. While other studio financing deals have faced challenges, the Yonkers portfolio's high occupancy rate and long-term tenant commitment position it as a stronger asset in the market.
Topics: film_studios New_York_suburbs refinancing tenant_improvements