I am more than happy that the Hollywood & Highland shopping center has been acquired by a real estate development company and private equity firm with a solid history of success. DJM, the real estate developer has decades of experience in Southern California. Gaw Capitol is a pioneer in Hollywood with the purchase and renovation of the Hollywood Roosevelt Hotel in 1995, which sits one block from Hollywood & Highland. When they bought the Roosevelt, the hotel was at 50% capacity with rooms selling for $85, Today, it is recognized internationally as an iconic one-of-a-kind lifestyle hotel steeped in the history of Hollywood.
Gaw manages real estate assets valued at over $23 billion including such Los Angeles assets as the Bradbury Building, LA Football Club HQ building, film and television studios, music venues and restaurants. Gaw Managing Director Dan Lee, says, "Being based in LA, we have built amazing relationships that span various creative fields and we are excited about pulling from those experiences and relationships to create something extraordinary at Hollywood & Highland. Our partnership with DJM intends to make Hollywood & Highland a destination where visitors and locals will feel they had a unique, exciting and fulfilling experience."
DJM is a private real estate equity and development company with a core strength in retail combined with expertise in office and residential assets. They are a youthful, energetic company focused on upgrading and rebranding Hollywood & Highland's common areas, programming spaces, entertainment events and bringing new concepts and excitement to the retailers, restaurants and tenants of the center. As Stenn Parton, the Chief Retail Officer at DJM says, "With Hollywood & Highland is an environment where the iconic allure of Hollywood meets the modern innovation of new media. Our opportunity as the new stewards is to make Hollywood & Highland a 21st century destination-one that offers visitors and locals a piece of Hollywood that is grounded by the needs of the modern consumer".
With this vision, the ease of parking as well as the TLC Chinese Theatre & Multiplex, Hollywood & Highland will not only continue to enhance the visitor experience, but also make it a fresh and welcome experience for locals. DH