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New York-based East End Studios broke ground Tuesday on a 250K SF studio and soundstage project in the flats of Boyle Heights in the shadow of the 6th Street Viaduct.
The project has an estimated total cost of roughly $230M and received $130M in senior and mezzanine debt in June, Commercial Observer reported at the time. Centennial Bank provided a senior loan in the deal, and Monroe Capital provided mezzanine financing, CO reported.
East End Studios’ Mission campus, as the project is called, is expected to be complete by the end of 2025, according to a CBRE release from June announcing the financing news. CBRE capital markets’ debt and structured finance team secured the financing for East End.
The Mission campus will span five acres at 2233-2251 Jesse St. The property sits within the so-called Thirty Mile Zone, a radius around Hollywood that is considered the most desirable region for new entertainment industry real estate.
The area where the project is under construction “has long been on our radar as a premier and thriving development market,” East End Studios Managing Partner Shep Wainwright said in a release. “With its abundant cultural richness and distinctive charm, [it] is an exceptionally fitting location for a best-in-class, fully integrated film & television studio campus.”
The project includes five soundstages totaling 100K SF, parking, accessible loading docks, outdoor space and more than 150K SF of offices for post-production use. A commissary and mill will also be included.
East End Studios has three projects planned in the LA area, including one in the Arts District at Sixth and Alameda and another in Glendale.
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