Over $27 million in equity has been raised to help complete the under-construction, mixed-use Jefferson at Hollywood, reports GlobeSt's Don Jergler. Formerly a Burger King (and currently a hole) across from the whole Hollywood and Highland thing, Jefferson is supposed to open for business in two years and feature 271 rentals, 8,500 square feet of retail, and a subterranean garage. The project's financier is quoted as saying the project is "transit-oriented, and the location will support very strong rents. We certainly have the expectation that it will achieve some of the highest rents in the market." Boastful or deluded?
· HFF secures $27M for Hollywood development [GlobeStreet.com]
· Youtubing Hollywood gentrification [Curbed LA]