PRS Obtains Construction Loan

Plymouth, MA – Plymouth Rock Studios (PRS) has executed a construction loan for their proposed $550-million film, television and digital studio complex in Plymouth. Prosperity International of Orlando, Florida, a firm involved with the developing, financing and implementing of diverse infrastructure projects, will serve as the lender. “This brings us much closer to developing the next generation studio in Plymouth to serve the entertainment industry,” said Earl Lestz, CEO of Plymouth Rock Studios. “Prosperity has recognized that participation in the world’s first full service, fully sustainable, smart studio will be an important addition to their portfolio. I join our project partners and tenants in welcoming them to the team.” In addition to this most recent financing success, PRS continues to focus on project permitting and leasing. The project has received a unanimous vote of approval for its master site plan from the Plymouth Planning Board and has obtained a waiver from the Secretary of Environmental Affairs to allow construction of an access road that will serve the studio and the neighboring public school campus. Leasing also continues at a fast pace, with leasing commitments for almost 60% of the available office, postproduction and retail space.