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9/14/22
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CMNTY Culture has acquired a land assemblage situated at the northeast corner of the intersection of Sunset Blvd and Highland Ave in Hollywood. CMNTY Culture is made up of seasoned entertainment, finance, and real estate professionals and is led by Thomas St. John, founder and CEO of the leading global sports and entertainment accounting firm, with creative direction from eight-time Grammy Award-winning artist Philip Lawrence.
The site’s iconic Hollywood location comprises four contiguous parcels totaling 1.88 acres at 1518-1536 N Highland Ave and 6751-6767 W Sunset Blvd. One parcel, at 6767 W Sunset, was purchased in July 2021 for $9.1 mil.
The three remaining parcels were recently acquired for $44 mil. That acquisition was funded by a loan of $35 mil provided by Parkview Financial.
The four parcels consist of U-shaped land which are currently improved with a strip center, a live performance venue, plant nursery, and two surface parking lots. The plan is to demolish the buildings for the new development.
Once fully rezoned and entitled, the ownership plans to construct CMNTY Culture Campus, which will include two towers (of 13 and 14 floors) totaling approximately 500k sf of creative office and studio/production space with six subterranean parking levels.
The project architect is the Los Angeles office of HKS Architects, Inc. Hood Design Studio, based in Oakland, CA has been named the landscape designer.
“This loan provided Parkview Financial the opportunity to finance a land assemblage on one of the most visible corners in Hollywood at Sunset and Highland,” said Paul Rahimian, CEO and Founder of Parkview Financial. “Over recent years, media, tech, and entertainment companies have continued to intensify their presence in Hollywood and we believe this well-conceived and architecturally stunning project can be a competitive product offering in this market.”
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