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CIM Group Divests Hollywood & Highland to DJM, Gaw Capital
CIM Group sold Hollywood & Highland, the 463,000-square-foot retail and entertainment center in Hollywood, to a partnership between San Jose-based DJM and Gaw Capital, reportedly for $325 million. They plan to reimagine the 7.6-acre site over the next 24 to 30 months encompassing upgrades to the retail hub, rebranding, upgrading common areas, ramping up entertainment events, optimizing the merchandise mix and incorporating new concepts and uses.
DJM’s Stenn Parton says, “The retail landscape has shifted, consumer tastes have adapted, and ‘New Hollywood’ is constantly redefining itself. With Hollywood & Highland, we at DJM and Gaw Capital are eager to seize the opportunity to create, in the heart of Los Angeles, an environment where the iconic allure of ‘Old Hollywood’ meets the modern innovation of new media.”
Natixis’ Jerry Tang and Greg Murphy provided the financing package. Eastdil Secured advised on the transaction.
The sale does not include the iconic Dolby Theatre at Hollywood & Highland, a 3,400-seat auditorium and home of the annual Academy Awards.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




