Phoenix, Arizona – Belmont Infraco and Arizona-based Desert Studio Complex Partners (Desert Studios) are pleased to announce their agreement for Desert Studios’ purchase of 320 acres of land from Belmont Infraco at the northwest corner of Thomas Road and 339th Ave. The sale represents an important milestone in Desert Studios’ plan to create a major hub for the creation of major films and television programing, as well as streaming content. Desert Studios envisions breaking ground in 2023 after finalizing entitlements for their project. Concurrently, the Belmont team plans to obtain entitlements for the additional acreage surrounding the project in order to incorporate this development into the overall Belmont plan.

The Company is currently finalizing the site planning and moving quickly into the definitive design work. The plan is to build out Desert Studios in four phases.

Phase 1 of the plan consists of 12 state of the art sound stages of 40,000 sq. ft. each, which can be divided into two 20,000 sq. ft. stages, with production offices connected to each stage building. Also included in Phase 1 are the support facilities essential to fulfilling the Company’s vision of creating an innovative complex supporting the production process from start to finish. Key facilities include editing/post-production, equipment rental, set construction, craft services and catering buildings along with a backlot, and a variety of other production related structures. The 3 following phases have plans for additional stages and support facilities.

The studio complex is expected to create thousands of on-site and film industry related jobs. It is also anticipated to be a major driver for the larger Belmont development, as well as the entire Buckeye area, along with advancing the growth of regional tourism and transportation infrastructure. Finally, the combination of this production hub along the anticipated alignment for the future Interstate 11, including a five-mile transportation super-corridor through the Belmont development, along with the projected growth, which could facilitate the expansion of the nearby Buckeye Airport into a regional corporate jet hub.

“We could not be more excited to be working with the Belmont team as we build what we are confident will be an economic development and job creating game-changer in Arizona. The state of the art studio complex will generate immense benefits to the State, as well as local municipalities and small businesses throughout Arizona as productions companies using this complex utilize all areas of the state for on- location production needs,” said Justin Davis, Partner and General Counsel for Desert Studios. Davis added, “The agreement with Belmont provides the land and the infrastructure resources to be a central part of Arizona becoming a major production hub for a film industry that now spends over $200 Billion annually.”