KIMC Snags Distressed Office Building on Hollywood Boulevard

Kairos Investment Management Company (KIMC) has partnered with Harbor Associates to acquire 6922 Hollywood Blvd., a 12-story, 208,000-square-foot office and retail property in Hollywood, CA. KIMC, which focuses on an opportunistic, value-add real estate investment strategy, said the headwinds from the pandemic allowed the property to be acquired at distressed pricing.

“This mixed-use asset offers multiple streams of revenue which mitigates some of the risk around office in the near term, including 100% leased retail and rapidly improving parking revenue,” said KIMC CEO Carl Chang. The property also includes a five-story parking garage, and retail tenants Wahlburgers, CaboWabo and US Bank.

Kairos plans to do site and facade improvements, as well as update vacant office space, with a goal of reaching 85% to 90% occupancy by the end of 2025. The Trailer Park Group, an entertainment marketing and production company, is currently the building’s anchor office tenant, occupying the top three floors.

Connect

Inside The Story

Kairos Investment Management CompanyCarl ChangHarbor AssociatesThe Trailer Park Group

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

Order Reprints