Great Point Studios Secures $101 Million C-PACE Loan For Newark Film Production Campus

The asset involved in this transaction is a development site located at 801 Frelinghuysen Avenue in Newark, NJ. The development is set to occupy a total of 270,000 square feet, aimed at creating a film and television production campus. Great Point Studios is the landlord of this project, which is fully pre-leased and anchored by Lionsgate, with a construction loan amounting to $101 million.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $101,000,000
• Address: 801 Frelinghuysen Avenue
• Market: Newark, NJ
• Asset Size: 270,000 BSF
• Lender: Michael Doty - Nuveen Green Capital
• Landlord: Robert Halmi - Great Point Studios
• Brokerage Team: Tom Traynor, Tom Rugg, Bill Moyer, Mark Fluent, David Milestone, Anthony Jasenski & Henry Fenmore - CBRE

This transaction marks the largest C-PACE construction loan in New Jersey's history, with financing arranged by CBRE. The anticipated completion of the studio project is scheduled for 2027, reflecting a significant investment in the local film and television production industry.