Magazine article Mortgage Banking

GE Real Estate Provides $28.5 Million for Toronto Film Studio

Magazine article Mortgage Banking

GE Real Estate Provides $28.5 Million for Toronto Film Studio

Article excerpt

GE Real Estate, Norwalk, Connecticut, announced it has provided a $28.5 million construction-to-permanent loan to the Canadian Toronto Film Studios Inc., (TFS) Toronto, Ontario, for the 260,000-square-foot first phase of a mega-film and television production studio in Toronto's port lands, called FILMPORT.

The project is being developed by Los Angeles-based Filmport Inc., which owns TFS and whose principal shareholders are The Rose Corporation, Reading, Pennsylvania, and ComWeb Corporation, Toronto. The site on which FILMPORT is being developed is owned by The City of Toronto Economic Development Corporation (TEDCO), according to Alex Sieber, vice president and general manager at GE Real Estate's Business Property Division.

"GE Real Estate is proud to be a financial partner in this innovative mega-studio project in the heart of Toronto's port lands area," said Sieber. "We have developed considerable respect and appreciation for all involved in the deal. It is now an exciting time, as this team will surely continue to be a part of a very positive venture for the city of Toronto."

When fully developed, FILMPORT will comprise more than 500,000 square feet of film production space and 2. …

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