M
arcus LeeMonday, Jul 14, 2025 12:12 pm ET2min read
The $85 million bridge loan provided by Silver Point Capital to Great Point Studios and National Resources for the North Broadway Campus in Yonkers, New York, is a strategic bet on the Northeast's emergence as a global film production hub. This refinancing of a 112,000-square-foot studio complex, fully pre-leased to Lionsgate and Mediapro US, marks a significant shift in the entertainment industry: the rise of purpose-built studios in tax-incentive-friendly regions.
The Northeast's Film Renaissance has been quietly underway, with Yonkers transforming from a manufacturing backwater into a hub for film production. New York State's film tax credits have made the region attractive to studios fleeing higher-cost markets. In 2024, the film industry contributed $924 million to Westchester County's economy, supporting over 3,000 jobs—a 50% jump from 2023.
Silver Point Capital's loan is a masterclass in strategic real estate investing. The North Broadway Campus benefits from 100% pre-leasing to Lionsgate and Mediapro, reducing risk for lenders and investors alike. National Resources' sustainable development expertise and Great Point's entertainment industry ties bring complementary strengths to the joint venture.
New York's film tax credits are driving demand for studios like North Broadway, creating a virtuous cycle of tenant stability and investor confidence. The results include a 50% increase in film-related jobs in Westchester County, with wages exceeding $260 million in 2024. For real estate investors, this means studios like North Broadway aren't just physical assets—they're economic engines.
Investors seeking exposure to the film production boom should look for deals with tenants backed by global media empires and focus on sustainable development. Tax incentives are a compounding advantage, as states like New York continue to invest in the industry. Consider real estate investment trusts (REITs) with exposure to entertainment hubs or partnerships with firms like Silver Point.
No investment is without risk, but Yonkers' diversified ecosystem mitigates potential risks by building a self-sustaining industry. The Silver Screen's new gold standard has been set, and investors who align with real estate partners offering sustainable development, stable tenants, and strategic locations stand to reap rewards as Hollywood's center of gravity shifts east.
