Lights, camera, action! 

Great Point Studios has sealed $101 million of construction financing to develop a film and TV production studio campus in Newark, N.J., Commercial Observer has learned.

Nuveen Green Capital originated the Commercial Property Assessed Clean Energy (C-PACE) loan for the Great Point Studios Newark project to be anchored by Lionsgate. The 270,000-square-foot development, which will have six soundstages and is 100 percent pre-leased, is slated for delivery in June 2027.

“We are thrilled to partner with MCCP to capitalize this significant project, which marks not one, but two milestones, as the largest C-PACE transaction in New Jersey and the first in the city of Newark,” said Mike Doty, Senior Director of Originations, Nuveen Green Capital.

“Through C-PACE, the sponsor will realize meaningful cost savings by financing this project at a competitive rate over a longer term, preserving capital that can be redeployed into the development itself,” Mike Doty, Senior Director of Originations at Nuveen Green Capital, said in a statement. “As C-PACE continues to expand across asset classes and use cases, it is exciting to see it applied to a project of this scale and cultural significance, one that is strategically located close to New York City and will bring jobs, production activity, and sustainable infrastructure to Newark for years to come.”

CBRE negotiated the C-PACE debt with a team consisting of Tom Traynor, Tom Rugg, William Moyer, Mark Fluent, David Milestone, Anthony Jasenski and Henry Fenmore. 

Great Point Studios Newark marks the first purpose-built film and TV studio in New Jersey created through tax credits. It is one of five major studio projects in the works throughout New Jersey as part of the state’s increased push to attract more film projects from Hollywood through tax incentives. 

“This financing is an important milestone that allows us to bring a world-class, purpose-built studio to a city with tremendous potential,” Robert Halmi, founder and CEO of Great Point Studios, said in a statement. “Lionsgate Newark will deliver sustainable infrastructure that supports the next generation of film and television production while creating high-quality jobs, supporting local businesses, and helping establish Newark as a new center for creative and economic growth.”

Andrew Coen can be reached at acoen@commercialobserver.com. 

Keywords: Anthony Jasenski, David Milestone, Henry Fenmore, Mark Fluent, Michael Doty, Robert Halmi, Tom Rugg, Tom Traynor, William Moyer, CBRE, Great Point Studios, Nuveen Green Capital