The former president of Tyler Perry Studios has purchased the filmmaker’s former movie complex in southwest Atlanta to open a brand new Latino-owned production studio.

Areu Bros. bought the 57-acre complex for $18.5 million and closed on Dec. 13, 2018, according to the Atlanta Business Chronicle.

The company—made up of Ozzie Areu, who served as president of TPS for 12 years, and his brother Will Areu—have teamed up with Gloria Estefan to launch the first Latino-owned and operated movie production studio focused on elevating underrepresented storytellers.

The space had been vacant since 2016 and Areu saw it as an opportunity to start something new.

“Latinos and minorities, they’re a big presence at the box office, however, they don’t normally get to see themselves in specific roles, outside of stereotypical roles,” said Areu in an interview with WABE. “Being in the industry for a long time and having friends in the industry who are Latinos or women, I’ve heard a lot about it. I’ve seen some things. I felt like this was a great opportunity for me to be different and to really put my money where my mouth is. And go all in.”

Tyler Perry studios halted operations at the now sold space in 2016 and is now located at the Fort McPherson Army base near downtown Atlanta and the Hartsfield-Jackson Atlanta International Airport.

The new studio is expected to open later this year.