Lease-back deal raises fear capitol views may be Lost.(REAL ESTATE)(Capitol Records Tower)

From: Los Angeles Business Journal | Date: October 2, 2006| Author: | Copyright information

Now that the Capitol Records Tower has been sold, preservationists and Hollywood boosters are likely pleased that the landmark will retain its original use as an office building.

But another cause for hand wringing could emerge as the new owner makes plans to develop adjacent property.

Argent Ventures LLC, which purchased the 13-story Hollywood landmark and surrounding property for $50 million from Capitol Records' parent EMI Group PLC, plans to develop the remaining land on the two-acre parcel. A mixed-use development is one possibility.

Linda Dishman, executive ...

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