Bay Point Media Funds $20.0 Million Senior Loan to Athena Studios
ATLANTA–(BUSINESS WIRE)–Bay Point Media, LLC has provided a $20.0 million loan to Athena Studios to finance the construction of a new state-of-the-art studio development in Athens, GA. The 45-acre studio will feature over 200,000 square feet of purpose-built space for film and television productions. The complex will initially consist of four sound stages, support buildings, production offices and a fully equipped educational facility that will be the home of the UGA Film School and the Georgia Film Academy. The studio expects to be open for business in the first quarter of 2023.
Bay Point was represented by Troutman Pepper LLP on the transaction.
“Athena Studios is excited to partner with Bay Point Media as we develop a best-in-class facility that is purpose-built to meet the needs of today’s productions from tentpole franchises to independent films,” said Joel Harber, CEO, Athena Studios. “We’re also excited to bring this facility to the picturesque city of Athens. With hundreds of crew and experienced vendors nearby, Athens has everything a production needs.”
“We are excited to bring film and television productions to the city of Athens,” said Chandler Rierson of Bay Point Media. “We believe in the long term growth of the film industry in Georgia and are excited to be at the forefront of expanding the industry’s ecosystem across the state.”
About Athena Studios
Athena Studios is a new state-of-the-art sound stage development, the first of its kind in Athens, Georgia. Designed with input from Hollywood experts, Athena Studios will offer 82,000 square feet of column-free space on four stages. Each stage is a sound-proof box lined with Insul-QuiltsTM and features a state-of-the-art, silent air conditioning system. The campus will have 98,000 square feet of support space, including 28,000 square feet of office space, up to 30,000 square feet of mill space, and up to 40,000 square feet of flex space. The sponsors behind the project are Georgia natives, Joel Harber & Tim Burgess.
About Bay Point Advisors
Established in 2012, Bay Point Advisors LLC is a privately held firm based in Atlanta, Georgia specializing in customized, secured lending solutions across real estate and other industries, including entertainment, aviation, and natural resources. Since its inception, Bay Point Advisors has originated over $1 billion of privately negotiated loans. For more information, please visit www.baypointadvisors.com or www.baypointmedia.com.