Gaw Capital, DJM Acquire 463,000-Square-Foot Shopping Center in Los Angeles

Los Angeles — Gaw Capital and DJM have acquired Hollywood & Highland, a 463,000-square-foot iconic shopping center in Hollywood. The sales price was not disclosed. The buyers plan to implement renovations over the next 24 to 30 months. Renovations will include improving event space, incorporating space for different tenant concepts and making the property more accessible to consumers. Jerry Tang and Greg Murphy of Natixis arranged a financing package, which included an acquisition loan along with the future funding component, on behalf of the borrower. The seller was CIM Group, which has owned the property since 2004. The property was originally developed by The Hahn Company. CIM will retain ownership of the adjacent Dolby Theatre, which hosts the Academy Awards annually.