X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

VANCOUVER, BC-GE Real Estate was the lead partner in a $50-million refinancing at Vancouver Film Studios. Executives with the film and television complex believe the move will boost its growth and position in the competitive studio business.

“GE Real Estate was able to provide us with a simple but flexible solution that enhanced our ability to service our existing customers and attract more productions to Vancouver,” says Jason McLean, president and COO of Vancouver Film Studio’s parent company, the McLean Group, in a prepared statement. “This was a transformative deal that positions us for the next stage of our development.”

With a portfolio that includes 11 buildings totaling more than 268,000 sf and a significant equipment rental inventory through its wholly owned subsidiary, Pacific Backlot Services, Vancouver Film Studios is a premier production facility. Situated on nearly two city blocks just 15 minutes from Downtown Vancouver, it has stages, office complexes, mill space, construction shops, parking, a gym, helipad and other production buildings on a fully secured lot. Home to award-winning film productions & television series, Vancouver Film Studios is also Canada’s first carbon neutral production facility.

“GE Real Estate is proud to be a financial partner with Vancouver Film Studios,” says Alexandre Sieber, VP and general manager of GE Real Estate’s Business Property division. “We were able to quickly execute this transaction despite its complexity, and Vancouver Film Studios is well-positioned to capitalize on growing market demand.”

Sieber notes that the investment supports GE Real Estate’s strategy to strengthen its presence throughout the rapidly growing region of British Columbia and Western Canada. According to a recent report by Moody’s Investors Services, Canadian commercial real estate remains strong and continues to outperform commercial real estate in the United States. Vancouver scored among the highest of all Canadian markets in the report, earning a “Green 85″ score out of a possible 100.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.