Atlanta will continue to grow as a major production hub with the addition of BlueStar Studios, a 53-acre campus now under construction in nearby Forest Park, Ga., that will start operations in the summer of 2023.

The project represents a total investment of $180 million. Development will continue in phases through 2024. Atlanta-based Gala Media Capital, a division of private equity firm Peachtree Group, originated the financing for construction of phase one of the studio development.

The new film and TV production facility will offer 18 purpose-built stages with more than 600,000 square feet of space – ranging in size from 5,000 square feet to over 40,000 square feet each. Productions will have access to two intersecting 100GB fiber lines for supporting all technical needs, including cloud services and virtual as well as traditional production.

Stonehill PACE officials announced that the company originated its first commercial property assessed clean energy (C-PACE) financing in the state of Washington with a $16.3 million loan for the Cornus House, a new 199-unit multifamily project with 1,233 square feet of retail development.

“For eligible projects, C-PACE financing remains one of the more attractive venues to get a project over the finish line,” said Jared Schlosser, Stonehill’s senior vice president and head of Stonehill PACE. “The Cornus House is a great project in a strong market led by a savvy ownership group with 30-plus years of commercial real estate experience and a portfolio of more than 800 apartments. This C-PACE financing is the final piece to complete the financing puzzle.”

An expanded breadth of investment types has led Peachtree Hotel Group to rebrand as Peachtree Group to manage and control its multi-billion-dollar investment portfolio and direct investment strategies across its distinct operating and real estate divisions, including hospitality, commercial lending, residential development and capital markets.

As it more specifically relates to its ongoing hospitality investment strategy, Peachtree Group CEO Greg Friedman said evolving economic dynamics are influencing its approach. “The difficulty it creates on the acquisition front makes a solid case to focus on developments,” Friedman said. “You are less concerned about the short-term headwinds. Everything happening now is transitory; nothing is permanently changing the fundamentals of hospitality.”