![]() ![]() Gaw Capital USA and DJM purchased the complex last year for $325 million, and are the property’s third owners in its relatively short lifespan. During this tough time for the world at large, we want to create a place of recognition, celebration and coming together in search of what it means to experience one of the most iconic places in the world.” “At Ovation Hollywood we applaud the creators, doers, teachers, doctors, entertainers, and small business owners that make this community sing. ![]() “An ovation is a sign of appreciation for someone’s work, talent, or effort,” Stenn Parton, chief retail officer at DJM, the Californian real estate development firm spearheading the transformation alongside Gaw Capital USA, said in a press release. As for the new name, Hollywood & Highland will be rechristened as Ovation Hollywood. Renovation work at the nearly 20-year-old complex, next to the Oscars-hosting Dolby Theatre and the TCL Chinese Theatre, is set to commence later this year and wrap up in late 2021. Hollywood & Highland, the over-400,000-square-foot entertainment and shopping complex that presides over one of the most traffic-snarled intersections in Los Angeles, will be getting a new name and a new, less retail-centric purpose as part of a major $100 million design overhaul. ![]()
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