New Tradition Media Signs Long-Term Lease Agreement for Master Advertising Lease at Ovation Hollywood with DJM and Gaw Capital Partners
New Tradition Media has signed a long-term lease agreement with DJM and Gaw Capital Partners to take over the master advertising lease at the famed Ovation Hollywood property (previously Hollywood and Highland) in Los Angeles.
LOS ANGELES, Jan. 26, 2021 /PRNewswire-PRWeb/ -- This January 2021, New Tradition Media has signed a long-term lease agreement with DJM and Gaw Capital Partners to take over the master advertising lease at the famed Ovation Hollywood property (previously Hollywood and Highland) in Los Angeles.
New Tradition is a rocket ship within the out-of-home media industry and is consistently closing new acquisitions and signing new agreements, particularly on the West Coast. This partnership with DJM and Gaw Capital is exemplary of New Tradition's consistent growth.
"We're honored to partner with some of the nation's most esteemed landlords and properties, and adding Ovation Hollywood to our portfolio of inventory is a proud moment for us," said Evan Richheimer, CEO of New Tradition.
Ovation Hollywood is one of the country's busiest and most acclaimed shopping centers spanning 463,000 square feet. The signage at the property is unprecedented with its reach of consumers including the property's hallmark Highland Nose Billboard. As DJM and Gaw Capital transform the "Times Square of Los Angeles" shopping destination on Hollywood Boulevard and Highland Avenue, New Tradition is excited to be an integral part of the Ovation Hollywood evolution.
About New Tradition
Founded in 2010, New Tradition is one of the fastest-growing Out-Of-Home media companies in the United States as well as one of the largest independent operators of large format digital and static signage. With a focus on urban core environments, New Tradition provides advertising platforms for national brands and advertising agencies throughout the country. This includes signage in New York, Los Angeles, Boston, Nashville, Miami, San Antonio, San Francisco, Seattle, Portland, and Las Vegas. For more information, please visit http://www.NewTradition.com.
About DJM
DJM Capital Partners, Inc. is a private real estate equity and development firm based in San Jose, California. With a core strength in retail combined with expertise in office and residential asset classes, DJM's market knowledge and strategic acquisition of undervalued assets is represented by a current portfolio of approximately three million square feet with an estimated total portfolio value of $1 billion. For more information, please visit http://www.djmcapital.com.
About Gaw Capital USA
Gaw Capital USA ("Gaw USA"), an affiliate of Gaw Capital Partners, was formed in 2013 to provide services for private equity real estate fund management and separate account investments in the United States. Gaw USA through its associate, Downtown Properties, has been investing in US real estate since 1995. Currently, Gaw USA is investing its third U.S. dedicated private equity fund and manages multiple single-asset separate account investments, with over US$3.0 billion under management as of 2Q20.
Gaw Capital USA pursues a value-driven investment strategy with a strategic focus on repositioning projects located in major knowledge and innovation markets marked by a young, well-educated population and strong employment growth prospects. The firm differentiates itself through its strong reputation, its significant local network of relationships, and a successful track record of more than two decades of investing in real estate within emerging areas of US gateway and secondary cities.
Media Contact
Emily Bennett, New Tradition Media, +1 (516) 661-5660, [email protected]
Emily Bennett, New Tradition, 5166615660, [email protected]
SOURCE New Tradition Media
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