Lions Gate Entertainment Corp. and media-focused investment fund Great Point Capital Management inked a letter of intent to build a more than $100 million production facility in Yonkers, N.Y.
Pursuant to the agreement, Lions Gate will become a long-term anchor tenant and investor in the studio complex, and will have naming rights to the studio.
Construction on the facility will begin in November and the facility will become functional in late autumn 2020, according to a Sept. 5 news release. The production hub 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.
National Resources is serving as a key investment partner and project developer for the construction of the facility, while London-based Great Point Media Group is serving as an adviser to Great Point Capital.
