Echelon Studios breaks ground on 10 purpose-built sound stages in Brooklyn

Brooklyn, NY A joint venture between Bain Capital Real Estate (“Bain Capital”) and Bungalow Projects, Echelon Studios has broken ground on 10 purpose-built sound stages with market-leading industry specifications. CounterpointeSRE, a MassMutual portfolio company, provided $156 million in C-PACE financing to the joint venture with partners providing an additional approximately $148 million, bringing the total financing to $304 million. Eastdil Secured advised on the financing.

“This financing demonstrates both CounterpointeSRE’s commitment to advancing sustainable development and the growing comfort of sophisticated institutional capital utilizing C-PACE as a financing tool,” said Eric Alini, CEO of CounterpointeSRE. “We are pleased to partner with Bain Capital and Bungalow Projects, as Echelon Studios will be a cornerstone of New York’s film and television production industries.” With significant on-site power generation, the facilities are anticipated to meet the requirements for NYC Ultra-Low Energy Buildings as reported and designed by COOKFOX Architects, DPC.

About CounterpointeSRE 

CounterpointeSRE operates at the intersection of commercial real estate and energy industries providing mortgage, C-PACE and other energy financial products. As a portfolio company of MassMutual, our focus is to provide one-stop sustainable finance solutions to our commercial real estate owners/operators.

Learn more at CounterpointeSRE.com