Search
 

Hollywood & Highland Set for Possible $200M Sale

HOLLYWOOD, CA-Sources close to the deal say that CIM, backed by pension fund money, is in due diligence now for the massive mixed-use entertainment complex. Shedding the beleaguered asset will allow Trizec to "Get on with their life as an office REIT.

By John Salustri | Updated on January 16, 2004

HOLLYWOOD, CA-People at the negotiation table aren’t talking, but sources familiar with the deal have confirmed for GlobeSt.com that CIM Group, backed by pension fund money–including CalPERS–is closing in on the purchase of the Hollywood & Highland mixed-use entertainment complex here. The price is estimated at $200 million.

The sale involves two components–the so-called retail portion of the complex, which also includes the Kodak Theatre and Wolfgang Puck’s catering facilities, and the 640-room Renaissance Hollywood Hotel. The retail portion of the site is fully owned by Trizec, which–as TrizecHahn–developed the complex. Trizec also holds a majority piece of the hotel. Marriott owns the remainder.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.