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Morguard Corporation Completes Acquisition of Luxury Multi-Purpose Complex in Los Angeles' Creative Epicentre
Morguard Corporation Completes Acquisition of Luxury Multi-Purpose Complex in Los Angeles...
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[{"type":"text","content":"\n \n \n \n Morguard Corporation Completes Acquisition of Luxury Multi-Purpose Complex in Los Angeles' Creative Epicentre\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Morguard expands its ownership of Lumina, a luxury mixed-use asset located in the heart of\n \n Hollywood\n \n \n \n \n \n MISSISSAUGA, ON\n \n ,\n \n Jan. 27, 2022\n \n /CNW/ - Morguard Corporation (TSX: MRC) (\"Morguard\") announced today that it has acquired the remaining 40.9% ownership of Lumina, a premium mixed-use property in\n \n Los Angeles\n \n , the second largest city in the US by population. With this acquisition, Morguard has increased its ownership to 100%, expanding its investment in the state of\n \n California\n \n and\n \n the United States\n \n .\n \n \n \"Our increased investment in this strategically-located luxury property strengthens our commitment to multi-suite residential and commercial assets in\n \n the United States\n \n ,\" said K.\n \n Rai Sahi\n \n , Chairman and CEO of Morguard. \"Expanding our ownership of this prominent asset aligns with our portfolio strategy to provide long-term growth potential.\"\n \n \n Lumina is a 22-story mixed-use high-rise comprised of 299 urban loft residences, 40,746 square feet (SF) of creative office space, and 12,078 SF of retail space, available for lease. Lumina is located within one of the most vibrant and creative areas of\n \n Hollywood\n \n , where thousands of media and arts industry workers come together. The property is surrounded by top international media production and entertainment studios including Netflix, Sunset Gower, and Paramount Studios.\n \n \n Lumina features state-of-the-art spaces to live, work and shop including:\n \n \n \n \n Self-contained creative working space and outdoor terrace:\n \n Creative office space that features dedicated parking and elevators, and an outdoor terrace overlooking the Hollywood Hills.\n \n \n \n Luxury living and shopping:\n \n Relax by a resort-style pool and sundeck, lounge area with a fireplace, outdoor dining areas with BBQs, and 19,000 S...