Hollywood & Highland Devalued
Hollywood & Highland has been devalued by the newly opened shopping center’s developer, TrizecHahn Corp. The Canadian developer reduced the value of the Hollywood center by $217 million—a 40 percent reduction in the center’s value. TrizecHahn, which is seeking to sell the Hollywood & Highland complex within the next three years, said it did not anticipate the devaluation to affect the sale price. The developer also announced it would devalue its Desert Passage center in Las Vegas.
