CounterpointeSRE Closes Record-Breaking $156 Million C-PACE Financing for Echelon Studios, New York City Production Studio Portfolio

NEW YORK--(BUSINESS WIRE)--CounterpointeSRE, a respected leader in sustainable finance, announced the closing of a $156 million Commercial Property Assessed Clean Energy (C-PACE) to fund the construction of Echelon Studios, two film production facilities in Brooklyn, New York. Heralding Climate Week 2025, the transaction represents the largest C-PACE in the state and New York City and highlights CounterpointeSRE’s innovative solutions for the largest institutional investors.

A joint venture between Bain Capital Real Estate (“Bain Capital”) and Bungalow Projects, Echelon Studios will provide 10 purpose-built sound stages with market-leading industry specifications. With significant on-site power generation, the facilities are anticipated to meet the requirements for Ultra-Low Energy Buildings as reported and designed by COOKFOX Architects, DPC.

CounterpointeSRE provided $156 million in C-PACE financing to the joint venture, while funds affiliated with Farallon Capital Management originated an additional approximately $148 million, bringing the total financing to $304 million. Eastdil Secured advised on the financing.

“This financing demonstrates both CounterpointeSRE’s commitment to advancing sustainable development and the growing comfort of sophisticated institutional capital utilizing C-PACE as a financing tool,” said Eric Alini, CEO of CounterpointeSRE. “We are pleased to partner with Bain Capital and Bungalow Projects, as Echelon Studios will be a cornerstone of New York’s film and television production industries.”

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About CounterpointeSRE

CounterpointeSRE operates at the intersection of commercial real estate and energy industries providing mortgage, C-PACE and other energy financial products. As a portfolio company of MassMutual, our focus is to provide one-stop sustainable finance solutions to our commercial real estate owners/operators. For more information, visit https://CounterpointeSRE.com.

About Bungalow Projects

Based in New York City and founded in May 2023, Bungalow Projects is a full-service real estate investment and development firm pioneering the future of episodic, film, and digital content creation by constructing sustainable and cutting-edge production hubs to nurture the world’s creative visionaries. For more information, visit https://bungalowre.com.

About Bain Capital Real Estate

Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed over $10.4 billion of equity across multiple sectors. Bain Capital Real Estate focuses on assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate's strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm's global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. Bain Capital is one of the world's leading private investment firms with approximately $185 billion of assets under management. For more information, visit https://www.baincapitalrealestate.com.