Cinespace is up and rolling with 4 new series and more Reel Chicago News According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. Today, TREP has $5.3 billion of assets under management. Sign up for THR news straight to your inbox every day. 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.. 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. The Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. With all precincts reporting, Monique Scott won 45.4 percent of the vote in a crowded field, while challenger Creative Scott had 12.6 percent. The two are not related. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Chicago is not trying to be Hollywood. Monique Scott was sworn into City Council to replace her brother, former Ald. The indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. Pissios went on to be president of Cinespace Chicago Film Studios, the post he held when federal prosecutors accused him of failing to disclose all of his assets in his bankruptcy and got him to . Today In The Culture, March 2, 2023: Duck Pop-Up | Lettuce Entertains The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. Cinespace Chicago sells to Texas real estate company Sign up for our morning newsletter to get all of our stories delivered to your mailbox each weekday. The deal also involves studio space owned by Cinespace in Toronto. 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 . In Chicago, Cinespace Chicago Film Studios virtually rose up out of an abandoned steel mill. Cinespaces flagship studio campus on Kipling Avenue in Toronto has played host to shoots for Reign, Beauty and the Beast, Goon: Last of the Enforcers and 12 Monkeys. On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. The Chicago studio opened in 2010. Leslie Shribman and Courtney Power After a Covid-19 hiatus, Chicago's film industry is back up and running, with local film studio Cinespace Chicago adding more than 100,000 square feet of production space to keep up with demand. 19 talking about this. "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. Carrie Austin Resigns from City Council After 29 Years in Office, Why Will County Residents Are Fighting a Major Logistics Hub and Why Backers Say Its Needed, Control of Chicago City Council Up for Grabs as Aldermanic Runoffs Loom. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. 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.. 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.. TPG, which also owns a majority stake in the Hollywood talent agency CAA, declined to confirm that figure when contacted by the Tribune. Industry veteran Eoin Egan, who most recently was head of production services at Netflix, will join Cinespace as chief operating officer and a co-managing partner. About Us Locations CineCares News Contact Cinespace Chicago Cinespace Toronto Studio Babelsberg Cinespace We're the perfect partner for your next production. Cinespace Chicago Film Studios Being Sold For $1 Billion Detectives were questioning a person who was inside the home at the time. Thank you Alex for being the best ambassador this film community could ask for. 415-743-1550, Internet Explorer presents a security risk. In Toronto, Cinespace Film Studios was founded in 1988 by highly revered, (Uncle) Nick Mirkopolous. The Toronto studio launched in 1988. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. TPG Real Estate has a portfolio of some $5 billion in properties under management, according to the company website. 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 [] Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. 1448 S Rockwell St Chicago, IL 60608 - Alquileres en Chicago, IL We are thrilled to have the opportunity to expand on their vision by building a best-in-class studio platform that serves the creator community and drives job growth in Toronto, Chicago, and beyond, continued Jacob Muller, Managing Director at TREP. Its a done deal! said Pissios. This website uses cookies or other identifiers, which are necessary for its functioning. He was so successful in this endeavor that CineCares created 7,500 new jobs. 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. What you need to live your best life now. Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created. 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. 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. Watch. Eoin Egan, who served as the head of production services at Netflix, will serve as the chief operating officer of Cinespace, officials said. Cinespace Chicago specializes in . Cinespaces new owners plan to expand the CineCares Foundation, which offers residents of underserved Chicago neighborhoods job training and education in the television and film industry. 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. TREP plans to expand the work done by the CineCares Foundation, a platform founded by Cinespace in Chicago in partnership with key productions on site to provide job training and education to underserved communities. J.B. Pritzker said in the TPG statement. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. To learn more, please refer to the cookie policy. Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. 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. Key tenants at Cinespace include 312 Fast Draw, AbelCine, Cinelease, DePaul FilmSchool, Keslow Camera, Lagunitas, and Periscope Post & Audio. TPG Real Estate Partners ("TREP") is the dedicated real estate equity investment platform of global alternative asset firm TPG. Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. To learn more, please refer to the cookie policy. Alex Pissios On the Future of Cinespace Chicago and His - News Anyway Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Expanding 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. 24th Ward candidates headed to April runoff - Austin Weekly News 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. Alex Pissios has confirmed that Cinespace Chicago Film Studios and Cinespace Toronto, the amazing empire that he and his uncle Nick Mirkopolous built on a dream, has been sold to TPG Real Estate, a West Coast based global alternative asset manager. CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved communities. CineCares is how we support, promote, and engage local communities. (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 . Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry. Crains Chicago Business reported the sale price as $1.1 billion. Your pleasant demeanor, warm smiles, and bigger-than-life personality will be sorely missed on campus. Gov. Box Office: Michael B. 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Cinespace Chicago Film Studio | Enjoy Illinois 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 Chicagos West Side. 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. Today's news is good news for Cinespace Studios, our city, and our thriving film sector. newsletter here. 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. State grants heavily financed Cinespaces expansion into Chicago under Pissios uncle, Nick Mirkopoulos, who founded Cinespace in Toronto in the 1980s. Jane Williamson joins Cinespace as Head of Studio Operations The statement also includes praise from Mayor Lori Lightfoot and Gov. During the waning days of Gov. News about the Studio and Production Facility Industry | Cinespace Feds' mole's disappearing debt - Chicago Sun-Times Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . He would later help his nephew, Chicago native Alex Pissios, open the North Lawndale branch in 2011, where Pissios has been president and CEO since. Cinespace intends to grow its employee base at each studio as a result of the transaction. From Road to Avonlea to Best Picture Oscar winner Chicago, Pompeii and The Strain, Cinespaces model of large, functional spaces and expert client service continues to make Toronto and Cinespace the premier destination for film and TV production in Canada. Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. Every dime we make fundsreportingfrom Chicagos neighborhoods. Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. What to watch. Cinespace Chicago Film Studios shoots shows like "Chicago Fire" and "The Chi" at its North Lawndale campus at 2621 W. 15th Place. 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. Terms of the deal, and the purchase price, were not mentioned in the release. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. 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. An effort to help diversify TV and film crews, CineCares has created a meaningful (and paid) foot in the door for people of color. During this pandemic, I think we all had a chance to experience how essential quality shows are to our culture and even to our mental health. Lightyearswill premiere exclusively on Amazon Prime Video. Cinespace Studios Chicago and Toronto aquired by TPG Real Estate in $1 TPG is bringing in its own team. 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.
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