Bungalow Projects, a real estate development firm focused on creating production hubs for episodic, film, and digital content creation, and Bain Capital Real Estate have closed $304 million in construction financing to support the development of Echelon Studios, two high-end film and television production studios in Brooklyn.
CounterpointeSRE provided a $156 million Commercial Property Assessed Clean Energy (C-PACE) financing to support the project’s sustainable development efforts, representing the largest C-PACE transaction in New York State and first C-PACE financing for ground-up development in New York City. An affiliate of Farallon Capital Management provided $147 million in additional financing.
Combined, the two Brooklyn developments will result in approximately 600,000 square feet of production space across 10 state-of-the-art soundstages, top-tier production office and support spaces, and significant below-grade parking. With 40-foot clear-to-grid heights,
