CTL Capital has closed a $42,600,000 credit tenant lease (CTL) loan secured by a 20-year lease with the City of Yonkers Board of Education, backed by a full guarantee from the City of Yonkers, NY. The loan proceeds financed the development of a new 100,000± square foot facility—home to the Robert Halmi Sr. Academy of Film & Television, a specialized public high school serving grades 6–12.
The academy is designed to cultivate the next generation of creative professionals through academic coursework, artistic training, and real-world learning experiences including internships, apprenticeships, and collaborative productions. As the most populous city in Westchester County and the third-largest in New York State, Yonkers continues to expand its presence in the film and studio industry, and this project contributes significantly to that growth.
This transaction underscores CTL Capital’s ability to deliver innovative capital markets solutions for projects leased to municipal and state government entities. As a direct CTL lender, CTL Capital specializes in long-term, fixed-rate financing for essential-use properties supported by investment-grade corporate, retail, healthcare, industrial, university, and government leases.