Gaw Capital USA, a real estate private equity firm, has teamed up with peer DJM to buy Hollywood & Highland, a shopping mall in the centre of Hollywood, Los Angeles.
Gaw Capital USA, an affiliate of Hong Kong-based Gaw Capital Partners, and DJM bought the asset from U.S. real estate company CIM Group.
The partnership acquired the 463,000 square foot property, located at at the crossroads of Hollywood Boulevard and Highland Avenue, and adjacent to the acclaimed TCL Chinese Theater, for $325 million.
Gaw Capital and DJM plan to overhaul the shopping and entertainment complex, which is spread across a 7.6-acre site, over the next 24 to 30 months.