Koffman is star of Culver Studios development deal.

SANTA MONICA, CA : Bryan Cave announced that Linda Koffman, a partner in the real estate practice group, represented Pacifica Ventures, owners of the historic Culver Studios in Culver City, Calif., in its successful bid to develop Albuquerque Studios.

The $74 million, 50-acre project is expected to benefit the local Albuquerque economy and the state of New Mexico.

"Pacifica Ventures will provide the film industry a real alternative, close to Los Angeles, where it can produce movies and television shows at prices competitive to any location in the world," Koffman said.

The approximately 500,000 s/f development will house eight sound stages, production offices, support space and will provide motion picture and television producers a state-of-the-art, full-service facility. Albuquerque Studios is the first announced project within Mesa Del Sol's overall 13,000-acre development.

"We are proud to be the first major anchor to this development," said Hal Katersky, chairman of Culver Studios.

New Mexico provides a 25 percent tax rebate on all in-state spending for a film or television production. This is a refund, not a credit. The state also offers four-year, interest-free loans of up to $15 million (which may represent 100 percent of the budget) if state labor requirements are met and an additional reimbursement for hiring qualified state residents as production trainees.

The transaction involved a participating mezzanine loan from Worker's Realty Trust II, of Chicago, through investment advisors Commonwealth Realty Advisors, Inc. and a construction loan from Amalgamated Bank's Ultra Construction Loan Fund, which is managed in its Washington, D.C., office.