Silver Point Capital Secures $85M Loan for Great Point Studios
Silver Point Capital Secures $85 Million Loan
Silver Point Capital, renowned for its expertise in credit investing, has made significant strides in the film and television infrastructure sector. The firm's Direct Lending segment recently extended an impressive $85 million bridge loan to a collaborative venture between Great Point Studios and National Resources. This loan is aimed at refinancing their innovative studio facility.
About the North Broadway Campus Studio
The North Broadway Campus represents a state-of-the-art facility covering 112,000 square feet. It boasts two expansive studios, each measuring 20,000 square feet, alongside a 10,000 square-foot studio. This well-thought-out design is complemented by open mill and office spaces, along with ample parking to enhance functionality. Long-term leases have been secured with Lionsgate and Mediapro US, a prominent player in the Spanish-language production industry.
Partnership Dynamics
Anthony DiNello, who leads the Direct Lending division at Silver Point Capital, expressed enthusiasm about this ongoing partnership. He remarked, "Collaborating with Great Point Studios and National Resources on this exciting project reflects over ten years of shared success and mutual growth." This partnership signifies Silver Point's commitment to fueling creative endeavors in the media landscape.
About the Companies Involved
Great Point Studios
Great Point Studios focuses on building a robust infrastructure for film and television. Their dedication to creating high-quality production environments plays an exciting role in the industry’s growth.
National Resources
National Resources is distinguished for its expertise in the design and redevelopment of corporate and industrial properties. With over three decades of experience in the New York metro area, they bring invaluable insight to every project, aiming to integrate sustainability into the redevelopment process.
Silver Point Capital's Leadership in Credit Investment
Founded in 2002, Silver Point Capital has established itself as a front-runner in the global credit investment arena. With a team of over 350 professionals, the firm oversees a remarkable $39 billion in investable assets. Their multifaceted credit strategies include both public and private investment opportunities, cementing their strong position in the market.
The Direct Lending segment of Silver Point Capital ensures tailored financing solutions suited for middle-market companies across diverse sectors. The firm prides itself on its attentive client engagement, allowing for rapid and certain financial resolutions. This flexible approach enables clients to navigate mergers, acquisitions, refinancing, and capital growth effectively.
Conclusion
As Silver Point Capital moves forward with its strategic financing initiatives, it significantly impacts the entertainment industry's infrastructure. The $85 million loan to Great Point Studios and National Resources not only emphasizes their commitment to supporting innovative projects but also underlines their position as an influential player in the credit investment field.
Frequently Asked Questions
What is the amount of the loan provided by Silver Point Capital?
Silver Point Capital provided a bridge loan of $85 million.
What is the purpose of the loan?
The loan is intended to refinance the North Broadway Campus studio in Yonkers.
Who are the partners involved in this project?
The project involves Great Point Studios and National Resources as joint venture partners.
What features does the North Broadway Campus offer?
The campus includes two 20,000-square-foot studios, a 10,000-square-foot studio, office space, and parking.
What is the significance of this partnership?
This partnership highlights a decade-long relationship between Silver Point Capital, Great Point Studios, and National Resources, focusing on innovative media infrastructure.
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