TPG Real Estate Acquired Cinespace Studios In Chicago And - Deadline Sign Up:Stay on top of the latest film, TV, advertising, entertainment and production news! As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. Sources: Feds made recordings at Cinespace Chicago - Chicago Tribune 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.. Cinespace announced in April plans to add 16 sound stages to its campus on the citys Southwest Side, with Pissios at the time telling Crains that the studio had to turn away projects, and that the expansion would add some 1,200 jobs in the local film industry. 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 continue to strictly follow health and safety best practices from the CDC and Illinois Guidance. 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. A federal appeals panel has ruled an Illinois state agency didn't violate . A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. Monique Scott was sworn into City Council to replace her brother, former Ald. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. I look forward to partnering with TPG to continue growing this critical industry and seeing what Illinois talent and infrastructure inspires in creatives across our state., Chicago Mayor Lori E. Lightfoot continued: "Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. The deal will also expand Cinespaces social impact work in Chicago by growing the CineCares Foundation, the film studios nonprofit wing. 415-743-1550, Internet Explorer presents a security risk. Keep up to date with our latest industry news, from across the world. Cinespace Studios Chicago and Toronto aquired by TPG Real Estate in $1 Cinespace Chicago Film Studios | Chicago IL - Facebook According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. Cinespace Studios has sold for $1.1B to TPG Real Estate - ReelChicago.com Egan and Gee are accomplished executives who have significant experience building and scaling businesses. New programs scheduled to film at Cinespace Chicago Film Studios this spring include Lightyears, 61st Street, Power Book IV: Force, and Paper Girls. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Block Club Chicago is a nonprofit news organization dedicated to delivering reliable, nonpartisan and essential coverage of Chicagos diverse neighborhoods. Website. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. 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. Block Club Chicago is a nonprofit news organization dedicated to . 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. The acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. About Us Locations CineCares News Contact Cinespace Chicago Cinespace Toronto Studio Babelsberg Cinespace We're the perfect partner for your next production. (Colin Boyle/Block Club Chicago) Voters will decide who of the two contenders will take the 24th Ward's aldermanic seat in the April runoff after Monique L. Scott only secured . News about the Studio and Production Facility Industry | Cinespace News and industry updates about Cinespace, as well as the entire industry devoted to filming locations, production facilities, and studio space. In TPG, weve found a partner who loves our great city of Toronto, respects Cinespaces heritage and tradition of philanthropy, and has the expertise and resources to help lead the company into its next phase of growth, said Steve Mirkopoulos, President and CEO of Cinespace Toronto. Opinion | The Spectacular Fall of Lori Lightfoot - The New York Times Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. Every dime we make fundsreportingfrom Chicagos neighborhoods. Cinespace intends to continue growing its studio base following the transaction. J.B. Pritzker welcomed Cinespaces new owners and said in a statement he was pleased the firm would expand the states capacity for television and media production will create opportunities for countless Illinoisans including the job training and apprenticeship programs that have been hallmarks of Cinespaces efforts in Illinois.. Since its inception in 2009, TREP has built a differentiated investment portfolio comprised primarily of real estate-rich platforms and portfolios located in the United States and Europe. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. Cinespace Chicago specializes in the development, management, and operation of studio facilities for the film, television, and digital media production industry. Cinespace Chicago Film Studios Being Sold For $1 Billion Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. Scott Vs. Scott: Ald. Monique Scott Headed To Runoff Against Creative Detectives were questioning a person who was inside the home at the time. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. Alexander Pissios, President of Cinespace Chicago Film Studios joins Steve Bertrand on Chicago's Afternoon News to talk about his plan to expand its studios by 50% by the end of 2021. Cinespace Chicago Film Studios Being Sold For $1 Billion While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner. 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. Cinespace Chicago Film Studios sprawling 60-acre campus is located on the West Side, with the main studios at 2621 W. 15th Place in North Lawndale. Media Contact Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. Subscribe to Block Club Chicago,an independent, 501(c)(3), journalist-run newsroom. In Chicago, Cinespace Chicago Film Studios virtually rose up out of an abandoned steel mill. Cinespace Expansion Will Bring More TV Shows And Jobs To Chicago, CEO Cinespace | Film Studio Locations, Production and Sound Stage Facilities State grants heavily financed Cinespaces expansion into Chicago under Pissios uncle, Nick Mirkopoulos, who founded Cinespace in Toronto in the 1980s. Cinespace is building a Hollywood-style studio - Time Out Chicago 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. I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. #mc_embed_signup{background:#fff; clear:left;width:100%;font-weight:normal;}, Beyond Chicago from the Air with Geoffrey Baer, The Great Chicago Fire: A Chicago Stories Special, Surviving R.Kelly: Final Installment Examines Trial and More Details, Chicago Film Critics Break Down Sight and Sounds New Greatest Films of All Time List, Actor and Director Isaiah Washington Brings New Film to Chicago, Starstruck Memories from Chicago International Film Festival Founder, New Chicago-Set Film Highlights Citys Street Art Scene, After Unexpected Death of Her Husband, Naperville Woman Plans to Finish His Documentary, Venus and Jupiter Will Be Side by Side in Wednesdays Night Sky. Cinespace furthers their vision to build a premier global production 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 specializes in the Development, Management & Operation of Studio Facilities. The GM and coach seem to be more cohesive than Ryan Pace was with Matt Nagy and John Fox. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities. 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. Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. TPGs purchase of Cinespace is not an outlier, but part of a larger trend, thanks to a nationwide shortage of available stage space due to the onslaught of projects demanded by streaming services. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. Feds' mole's disappearing debt - Chicago Sun-Times Today In The Culture, March 2, 2023: Duck Pop-Up | Lettuce Entertains Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. Cinespace Chicago Film Studio campus in North Lawndale. One of the projects launched under Pissios tenure is a pipeline program called CineCares. Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. Today, TREP has $5.3 billion of assets under management. Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series 61st Street at Cinespace Chicago Film Studios. You can accept the use of cookies or other identifiers by closing or clicking the accept button. J.B. Pritzker said in the TPG statement. The pop-up runs Friday through the end of March. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visit ChicagoFilmStudios.com or CineCaresFoundation.org. Cinespace Chicago Film Studio Arts & Culture. Polling Place: Is Patrick Kane the greatest Blackhawk ever. 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. Mayor Lori Lightfoot commended the investment for the jobs and productions it will bring to the city. The bar will host a flip cup tournament, trivia nights and, of course, a St. Patrick's Day bash. The results of that poll, in a word: Oof. 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. Cinespace Chicago specializes in the development, management and operation of studio facilities, now home to the Dick Wolf One Chicago franchise of Chicago Fire, Med and P.D., The Chi, Lightyears,61stStreet,Power Book IV: Force, Paper Girls, South Side, andThe Big Leap. Friday April 20 2018. Cinespace Studios Sold for $1.1B to TPG Real Estate. 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. Cinespace Chicago specializes in . Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. To learn more, please refer to the cookie policy. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Leslie Shribman and Courtney Power Cinespace is up and rolling with 4 new series and more Reel Chicago News CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved communities. 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. "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. Cinespace, the studio that is home to Chicago-based film and TV productions including "Chicago Fire," has been sold to the real estate arm of TPG, a buyout firm based in Texas and California, the two companies announced Friday. Our clients create groundbreaking films and television. In Toronto, Cinespace Film Studios was founded in 1988 by highly revered, (Uncle) Nick Mirkopolous. Key tenants at Cinespace include 312 Fast Draw, AbelCine, Cinelease, DePaul FilmSchool, Keslow Camera, Lagunitas, and Periscope Post & Audio. As production begin to ramp back up the studio continues to strictly follow health and safetybest practices from the CDC andIllinois Guidance. Cinespace in North Lawndale has hosted filming for TV shows like Empire and Chicago Fire for the past few years, but the Southwest Side complex will start to look . Lightyears will premiere exclusively on Amazon Prime Video. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. Contact Heather Cherone:@HeatherCherone| (773) 569-1863 |[emailprotected]. News about Cinespace Chicago | Cook County Record Cinespace Chicago Film Studios - DePaul University Sep 2021 - Mar 2022 7 months. The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. On a personal note, the Chicago film community, the recipients of the CineCares Foundation, the Pilsen neighborhood, and the City of Chicago, owe a huge debt of gratitude to Uncle Nick Mirkopolous, Alex Pissios, and the entire Mirkopolous family for having the foresight, determination, talent, expertise, faith, and vision to raise up the Chicago film industry when others have tried and failed. Thanks for subscribing to Block Club Chicago, an independent, 501(c)(3), journalist-run newsroom. I am thrilled to see this acquisition expand our capability for content creation and look forward to the jobs and productions it will bring to our region. Power Book IV: Force, the third spin-off of the popular Starz Power series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. The combined Cinespace Chicago and Toronto film studios, founded by the Mirkopoulos and Pissios families, are the largest soundstage in the United States outside of Hollywood. Cinespace Chicago Film Studios welcomes several new productions to its growing campus. Having Chicago as a critical 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 opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. In TPG, weve found a partner who loves our great city of Toronto, respects Cinespaces heritage and tradition of philanthropy, and has the expertise and resources to help lead the company into its next phase of growth, said Steve Mirkopoulos, president and CEO of Cinespace Toronto. 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. They have been the source of incredible Canadian content and a steady job creator for the City and Province. At the Intersection of advertising, TV, film and production. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. 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. Key developments evolving in sale of Brauer Museum artwork by Valparaiso University, Its Chicagos fake birthday: Here are 30 essential foods and drinks to celebrate, from Rainbow Cone to Malrt, Carol Stream man, 35, dies in custody at Cook County Jail, officials say, Do Not Sell/Share My Personal Information. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing partners and COO and CFO, respectively. Subscribe for full access to The Hollywood Reporter. I am thrilled to see this acquisition expand out capability for content creation and look forward to the jobs and productions it will bring to our region.. The Toronto studio launched in 1988. Based on the comic book series by Brian K. Vaughan,Paper Girls is an Amazon series created by two studios, Legendary Television and Plan B, and written by Stephany Folsom, who previously worked onToy Story 4andThor: Ragnarok. 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.
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