Ohio REIT Enters Hollywood With Apt. Building Plans

Law360, New York (May 9, 2012, 7:47 PM EDT) -- Associated Estates Realty Corp., an Ohio-based real estate investment trust, picked up more than two acres of prime real estate near California's iconic Hollywood sign on Tuesday and plans to build a luxury apartment building complex for its first foray into the area.

Scooping up an iconic 78,800-square-foot office and retail complex with its purchase from Desmond's 5500 Wilshire LLC, the trust plans to build 175 apartments and a new garage on a neighboring parking lot, it said. Terms of the deal were not available and...
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