TPG Real Estate Acquires Leading Sound Stage Owner Cinespace Studios CineCares is how we support, promote, and engage local communities. The story centers around four 12-year-old girls who deliver newspapers. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. The Toronto studio launched in 1988. Productions ramped back up once the city reopened in June. CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! Sign up for our morning newsletter to get all of our stories delivered to your mailbox each weekday. Cinespace Studios in Chicago has 33 stages, with 15 more under development. Michael Scott Jr. (24th) is resigning from the City Council to take a job with Cinespace Studios, a West Side movie studio."Cinespace Studios is an important part of the local . The acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. Cinespace Chicago Film Studios | Chicago IL - Facebook Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Cinespace Chicago Film Studios - DePaul University Sep 2021 - Mar 2022 7 months. Studio Babelsberg Honored as Treasure of European Film Culture, Cinespace to Expand Production Infrastructure in Port Lands to Better Serve Toronto, Hollywoods Streaming Gold Rush Keeps Ontario Soundstages at Full Capacity, Cinespace Studios Announces Updates to Platform Following Annual General Meeting at Studio Babelsberg, Cinespace Names Andy Weltman Co-CEO of Legendary Studio Babelsberg, Illinois Shatters Record for Film Production Revenues at $630 Million in Economic Impact, Chicago Public Servant Michael Scott Jr. to Join Cinespace Studios as Director of Industry and Community Relations, Cinespace and York University Commit $3.12 Million to Motion Media Studio for Students, Illinois Film Production Tax Credit Expanded. Crains Chicago Business reported the sale price as $1.1 billion. Consumer appetite for original content has accelerated through the pandemic, leading to a dramatic increase in the demand to produce new films and television and in turn, a surge in the need for studio space, Bantasz said. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. TPG Real Estate Buys Cinespace Toronto, Chicago Studios for $1.1 The GM and coach seem to be more cohesive than Ryan Pace was with Matt Nagy and John Fox. Cinespace Toronto VP Jim Mirkopoulos added, The family is incredibly proud of our track record catalyzing economic activity and jobs in Ontario and Illinois, inspiring countless York University and DePaul University film students, and providing the best possible spaces and services to our clients, including for many award-winning projects. Netflix launching a production hub in Toronto by locking up eight soundstages four each at Pinewood Toronto Studios and Cinespace Film Studios in turn sparked a local space race by Hollywood streaming giants scrambling for soundstages on which to create new high-quality film and TV content. Cinespace Studios Sold for $1.1B to TPG Real Estate. Consumer appetite for original content is a growing secular trend that has accelerated through the pandemic, leading to a dramatic increase in the demand to produce new films and television and in turn, a surge in the need for studio space, said Avi Banyasz, Partner and Co-Head of TPG Real Estate. The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. Thanks for subscribing to Block Club Chicago, an independent, 501(c)(3), journalist-run newsroom. TPG, which also owns a majority stake in the Hollywood talent agency CAA, declined to confirm that figure when contacted by the Tribune. The statement also includes praise from Mayor Lori Lightfoot and Gov. Cinespace Studios, which helped spark a boom in movie and television production in Chicago, has been sold to a private equity firm that tapped a former Netflix executive to lead the operation on Chicago's West Side. Terms of the deal, and the purchase price, were not mentioned in the release. Cinespace Studios announces that Jane Williamson will join the company as Head of Client Services & Studio Operations in Chicago.Nick Pissios will be leaving the position.. Jane was most recently Production Supervisor on season 2 of Lionsgate TV's Power Book IV: Force and Legendary Entertainment's Night Sky. TPG Real Estate Acquired Cinespace Studios In Chicago And - Deadline Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed ONeill will star in the sci-fi drama. Terms of the transaction were not disclosed. 2621 West 15th Place Chicago, Illinois 60608 Recent News About Cinespace Chicago Appeals panel turns out lights on Chicago film studio's antitrust suit vs IL Film Office By Scott Holland | Friday, Oct 18, 2019 @ 12:27pm. On Friday TPG Real Estate Partners, the real estate arm of the private equity firm TPG, announced plans to acquire Cinespace, the family-run business where the Dick Wolf shows for NBC film. 24th Ward candidates headed to April runoff. For 10 years, the majority of TV and movie projects in Chicago have been filmed at Cinespace Chicago Film Studios, the soundstage complex in North Lawndale. Teagan Pompa - Senior Studio Technician - Cinespace Chicago Film With 42 sound stages on its 2.2 million square foot main campus in Chicago's North Lawndale neighborhood and additional studios at 31st and Kedzie, Cinespace is the largest film studio outside of California. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. They were among the real pioneers in building something special in our city - they have helped me champion the local industry and attract new jobs and investments here. We have been studying the content creation and production landscape as an investment theme for a few years, and in that time have developed a relationship with the family behind Cinespace. Uncle Nick had the foresight to recognize how important it was for Chicago and the TV industry to have a facility to base a series there. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. Lightyearswill premiere exclusively on Amazon Prime Video. J.B. Pritzker said in the TPG statement. The soundstages for Dick Wolf's 'Chicago Fire' and Netflix's 'Umbrella Academy' have been picked up by the real estate investor amid a . As The Hollywood Reporter noted in August: The studio lot industry is riding high on private equity money as investors bet that the busy facilities boosted by streaming projects will offer better returns than office towers.. The Midwest's production hot spot recently added another 105,000 square foot industrial building near its main campus to expand its footprint and bring more stages online for the busy content creation industry. The release does not mention any role for Cinespace President and CEO Alex Pissios, whose run as the head of Cinespaces Chicago operation has seen the company expand into the citys premier studio space and purportedly the largest film campus east of California. Forcewill follow Tommy Egan (Joseph Sikora) as he turns his back on New York and heads to Los Angeles through Chicago to take on the Irish mob. Pissios cooperation earned him a non-prosecution deal with federal prosecutors on fraud charges tied to his 2011 personal bankruptcy. Every dime we make fundsreportingfrom Chicagos neighborhoods. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. The deal will also expand Cinespaces social impact work in Chicago by growing the CineCares Foundation, the film studios nonprofit wing. Got a story tip? Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created, said Alex Pissios, president and CEO of Cinespace Chicago. The Hollywood Reporter is a part of Penske Media Corporation. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. 1448 S Rockwell St Chicago, IL 60608 - Alquileres en Chicago, IL Your fullest creative potential. The soundstages for Dick Wolf's 'Chicago Fire' and Netflix's 'Umbrella Academy' have been picked up by the real estate investor amid a streaming content boom. The productions will bring more than 200 300 new jobs per show to the campus and play a vital role in resurrecting the television and film industry in Chicago. Monique Scott needed more than 50 percent of the vote to avoid a runoff. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. Cinespace Studios Chicago and Toronto aquired by TPG Real Estate in $1 Cinespace Chicago Film Studios announces huge expansion by the - WGN The companys Booth Avenue Studios hosted shoots for Guillermo del Toros The Strain, Heroes: Reborn, Rupture and Between. What to eat. Sources: Feds made recordings at Cinespace Chicago - Chicago Tribune Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. The film studio's sale is expected to accelerate the growth of Chicago's film industry and bring more production jobs to the area, new owners said. Cinespace intends to grow its employee base in Chicago and Toronto, officials said. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. The story centers around four 12-year-old girls who deliver newspapers. Ashlee Rezin Garcia / Sun-Times Alexander S. Pissios, president of Chicago's largest movie studio, had gone bankrupt but was still more than $1 million in debt when federal agents showed up three years ago. As part of Cinespace's commitment to the neighborhood, the family established CineCares Foundation to train and employ area residents through education and job training in TV & Film. Skip to content Reel Chicago News At the Intersection of advertising, TV, film and production REEL PRO Pat Quinns administration in 2016, Cinespace sought a $15 million state grant to buy real estate to expand its footprint, later reducing the request to $10 million. Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry. Keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Cinespace Chicago Film Studio | Enjoy Illinois Apartamentos.com cuenta con recorridos en 3D, videos en alta definicin, reseas y mucha ms informacin verificada que el resto de las pginas de alquileres. The Midwests production hot spot and second-largest film studio outside of Los Angeles in North America, recently added another 105,000 square foot industrial building near its main campus to expand its footprint and bring more stages online for the busy content creation industry. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. With the city at capacity, having a private equity firm running Cinespace could lead to growth. Ald. Michael Scott Jr. resigning from City Council, joining Cinespace Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. The deal, valued at $1 billion according to Crains Chicago Business, means the Pissios family of Chicago will no longer control the studio space they founded in 2011 with the aid of millions of dollars in state grants. Sign up for our free elert here. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. "Jane has worked on the Cinespace lot for many years in several different roles and understands the needs of a production and the Chicago film and TV community," Egan says in a release. Having Chicago as acritical link to providing not only quality entertainment, but also good-paying jobs in our community makes all the extra effort to help production companies keep filming worth it.. Cinespace Chicago Film Studios welcomes several new productions to its growing campus.. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities.. Zach Long. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. Monique Scott was sworn into City Council to replace her brother, former Ald. An effort to help diversify TV and film crews, CineCares has created a meaningful (and paid) foot in the door for people of color. Leslie Shribman and Courtney Power Cinespace Chicago Film Studio Arts & Culture. ft. of what use to be the old Ryerson Steel Company. One of the most storied studio complexes in the world, offering 21 sound stages rich in history, with vast production facilities and second-to-none production services that have been utilized by legendary filmmakers. You can accept the use of cookies or other identifiers by closing or clicking the accept button. Keep up to date with our latest industry news, from across the world. This timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities. To learn more, please refer to the cookie policy. Pissios was not able to disclose the terms of the deal, but it is understood from a source close to the transaction that TPG paid around $1.1 billion for Cinespace Studios in Chicago and Cinespace Toronto. Im around for six more months. After that, Alex and the other members of the family owned business will no longer be involved in the operation. Cinespace furthers their vision to build a premier global production platform Reel Chicago News Cinespace Studios announced a series of key leadership changes at Studio Babelsberg, a leading German film studio majority owned by Cinespace. A federal appeals panel has ruled an Illinois state agency didn't violate . Returning series filming at the Chicago campus includeChicago Fire, Season 9;Chicago P.D., Season 8;Chicago Med, Season 6; andThe Chi, Season 4; South Side, Season 2; andThe Big Leap. Founded by the Mirkopoulos family in Toronto together with the Pissios family in Chicago, Cinespace specializes in the development, management, and operation of studio space and support facilities for the film, television, and digital media production industry. TPG Real Estate Buys Cinespace Toronto, Chicago Studios for $1.1 TPG is investing in two of the most stable and sought-after filming jurisdictions in the world, and we are excited to see Cinespaces continued growth and success with TPG.. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. Separately, plans were announced in May for a $60 million soundstage project on the South Side spearheaded by film producer Derek Dudley and Loop Capital Chairman and CEO James Reynolds Jr. That studio, if it comes to fruition, will be called Regal Mile Studios and be located in the vicinity of South Stony Island Boulevard, East 77th Street and South Chicago Avenue. person to lead the city, failed to advance to a runoff, earning just 17 . CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved communities. The acquisition is expected to accelerate the growth of Chicagos thriving film industry and bring more production jobs to the area, said Avi Banyasz, co-head of TPG Real Estate. Ve el apartamento 3N en alquiler en 1448 S Rockwell St en Chicago, IL desde $1200 y encuentra otros apartamentos disponibles en Chicago. 19 talking about this. (StockSnap / Pixabay). In Toronto, Cinespace Film Studios was founded in 1988 by highly revered, (Uncle) Nick Mirkopolous. Cinespace Chicago Film Studios, the second-largest film studio outside of Los Angeles in North America, is pleased to welcome several new productions to its growing campus as the Studios. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. ", The Honourable Doug Ford, Premier of Ontario, said: Since launching in 1988, Cinespace has been a pillar of Torontos world class entertainment industry. For more information or to contract studio or business space at Cinespace, visit the website at ChicagoFilmStudios.com. Gov. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. ft. of what use to be the old Ryerson Steel Company. CHICAGO (CBS) --Ald. Cinespace sold to buyout firm in deal reportedly worth $1 billion Last year, he secured $21 million in financing for the first phase of a $76 million project to develop property along Ogden Avenue with the CHA and other partners, a proposal Pissios filed while also negotiating his deal with federal prosecutors. Feds' mole's disappearing debt - Chicago Sun-Times To learn more, please refer to the cookie policy. Our clients create groundbreaking films and television. Upon taking office, Quinns Republican successor Bruce Rauner, demanded Cinespace return the grant money following a Chicago Sun-Times investigation that showed that the parcels Cinespace had intended to buy were not for sale. Cinespace Chicago Film Studios Being Sold For $1 Billion Cinespace Chicago has 33 stages, with an additional 15 stages to be developed or converted on more than 60 acres. Masking, social distancing, and capacity limits in public and workplaces continue to be enforced at Cinespace Chicago Film Studios for the health and safety of staff and all production workers. NORTH LAWNDALE The film studio where Chicago Fire, Chicago PD, Chicago Med and The Chi are filmed is being sold for $1.1 billion and will stay in Chicago, according to published reports. Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D.
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