Real estate private equity firms DJM and Gaw Capital US acquired Hollywood & Highland, a 463,000-square-foot shopping center at the crossroads of Hollywood Boulevard and Highland Avenue in Los Angeles.

Citing sources familiar with the deal, The Real Deal reported that the partners bought the property from CIM Group for $325 million.

Natixis provided the financing package including the acquisition loan and the future funding component.

The buyers intend to renovate and add new uses to the 7.6-acre site beginning in 2020 with completion expected in 2021.