Atlanta is set to have another movie studio after private equity firm Domain Capital Group and real estate developer Capstone South Properties bought a 17-acre property in Stone Mountain, Georgia.
Construction of a studio called Electric Owl Studios will be completed in January 2023.
“We believe the Electric Owl facility will be a best-in-class TV and film production hub to minimize our environmental impact and promote sustainable economic opportunity for local communities,” said CEO. Domain, Chuck Taylor said in a statement.
Domain has a track record of investing in media, entertainment, and technology-focused companies. Now, as American streaming giants like Netflix and Amazon Studios increasingly lease existing sound systems and plan to produce their originals, the major financial companies and Real estate developers like Domain and Capstone have started investing in movie studios as part of their totality. property portfolios.
The studio lot industry is the beneficiary as private equity and real estate funds bet that busy facilities filled with streaming projects will deliver better returns than towers office and shopping mall.
“Since founding Domain in 2008, we have expanded our portfolio beyond real estate to other alternatives. In fact, we made our first investments in the entertainment industry about 10 years ago. We are therefore delighted to partner with Capstone to develop this sustainability-focused establishment and look forward to a positive impact on the local economy as well as many of the best film and television productions in the region. industry,” Taylor added.
Electric Owl Studios will be 25 minutes from Hartsfield-Jackson International Airport.