TPG Real Estate Partners acquisition of sound stage owner Cinespace

Industry: Real estate not elsewhere classified

On Nov. 12, 2021, TPG Real Estate Partners (TREP), the dedicated real estate equity investment platform of alternative asset firm TPG, acquired Cinespace Film Studios in Toronto (“Cinespace Toronto”) and Cinespace Film Studios in Chicago (“Cinespace Chicago” and together with Cinespace Toronto, “Cinespace”).

Cinespace focuses on the development, management and operation of studio space and support facilities for film, television and digital media productions in Chicago and Toronto. It is the second largest independent sound stage platform in North America and provides studio campuses.

Cinespace Toronto was founded by the Mirkopoulos family in Toronto in 1988 and currently operates 23 production stages across the city, with 12 stages planned for development. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development.

Cassels Brock & Blackwell LLP acted for Cinespace Toronto with a deal team led by
Jake Bullen,
Mickey Lungu,
and which included
Frank Arnone,
Lindsay Dykstra,
Thea Gaertner,
Jackie Karbi,
Tiffany Chiu (private equity, M&A and entertainment and sports),
Andrew Salem,
Lucas Blair,
Nathan Pelech (real estate and development),
Andrew Reback,
Tera Li Parizeau,
Corinne Grigoriu (tax),
Marc Mercier,
Carla Potter (banking and specialty finance),
Laurie Jessome,
Maria Constantine (employment and labour),
Raivo Uukkivi (municipal, planning and environmental),
Alison Hayman (intellectual property),
Bernice Karn (information technology and data privacy),
Brenda C. Swick (international trade),
Wendy Kirkton,
Rebecca Lee,
Veronica Ma,
Sally King,
Rosina Jagore,
Jane Oliveira,
Colleen Rusnov (law clerks and paralegals),
Sophie Beaton,
Melissa Montana (articling students).

Much Shelist, P.C. acted for Cinespace Chicago with a deal team led by
Steven L. DeGraff,
Courtney E. Mayster,
Steven Schwartz.

Davies Ward Phillips & Vineberg LLP acted as Canadian counsel for TPG with a deal team that included
David G. Reiner,
Stefanie Milner (real estate),
Kevin Greenspoon,
Daniel Pearlman,
Zach Hershenfeld,
Shimon Sherrington (corporate/M&A),
John M. Ulmer,
Paul Lamarre,
Brittany Finn,
Cadie You,
Sabina Han (tax),
Derek R.G. Vesey,
Devon W. Comstock (finance),
Sara V. Powell,
Zachary Silver (environmental),
Seann D. McAleese (employment),
Laila Paszti (technology),
Benoit Archambault (intellectual property),
Anita Banicevic (competition).

Kirkland & Ellis LLP acted as U.S. counsel for TPG with a deal team that included
Andrew Small,
Al Stemp,
Rachel Brown,
Jessica Schultz,
Jeff Rheeling,
David Arbus,
Tiffany Sabbah,
Phillip Kim,
Mark Lipschultz,
Adamantia Giannakis,
Peter Baum,
Seth Berliner,
Jennifer Aronsohn,
Lizbeth Cordova,
Vanessa Gomez,
Austin Brown (real estate),
Rick Madden,
Alex Blaznik (corporate),
Jack Stratton,
Karsten Busby (executive compensation),
Mike Beinus,
Justin Barbosa,
Meredith Levy,
Ashley Flor (tax),
Kim Nemirow,
Asheesh Goel,
Mark Filip,
Nick Niles (government, regulatory and internal investigations),\
Brett Saltzman,
Kelly Ryan,
Kevin Pavloski,
Omotunde Okesanya,
Genevieve Carter,
Jordan Keeton,
Michael Kuntz,
Joshua Morgan (investment funds),
Liz Dyer,
Matthew Antinossi,
Chris Chase (employee benefits),
Seth Traxler,
Adam Petravicius,
Matt Darch (technology and intellectual property),
Anna Geml (transactional liability insurance),
Chris Semonsen (environmental),
Michael Schulman,
Alexander Flynn-Tabloff (employment and labour).