January 1, 2012
ANNOUNCEMENT (January 2012) -- EFA Partners, an entertainment financial advisory firm focused on providing financing solutions for the film and leisure sectors, announced that it arranged an $8 million senior secured credit facility for Trails Cinema Partners LP, an Austin-based development group that is in the proceeds of building this new 11-screen theater which includes a luxury dinner theater and is part of the new 310,000 square feet mixed-use development in the Four Points are of Austin. The development, The Trails at 620, broke ground in February 2011, with expected completion of its first phase in the spring of 2012 and the theater in October 2012. Los Angeles based Galaxy Theatres will be managing the theater for Trails Cinema Partners. The proceeds from the financing will be utilized to fund the development and construction of the theater.
“We are thrilled to have EFA as a strategic partner as we enter the film exhibition industry,” said Leslie Sloan, General Partner of Trails Cinema Partners. “They know the financial side of the exhibition business as well as anyone, and their ability to guide us through the financing process and obtain the capital for a start-up exhibitor was invaluable.”
EFA’s principals have over thirty years of collective experience in film industry finance and have deep relationships with capital providers to the industry. They concentrate on the needs of various film sectors including movie theatre operators, film service companies, and digital cinema firms. This focus allowed them to provide Trails Cinema Partners with numerous proposals, provide appropriate recommendations and lead the negotiation of the financing documentation.
“We are extremely pleased to have been selected to lead Trails Cinema Partners’ effort to secure financing for its new theater in Austin”, said Brandt Gully, principal of EFA Partners. “The Trails at 620 development and this upscale theater are going to be tremendous assets to the community, and we are excited to be a part of the project.”