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Colliers International
The Yamashiro Restaurant could soon be evicted. The restaurant just sold last month along with the Hollywood Hills Hotel & Apartments for nearly $40M to 1999 Sycamore LLC, an Asian investment and development firm.
The new owner's plans for the Hollywood property were originally up in the air, but the restaurant now faces eviction because the rent is higher than Yamashiro's principal owner, Thomas Y. Glover, has been paying, according to Curbed.
Glover's family had owned the property since 1948.
The new rent is reportedly $100k/month, which is at least three times higher than he previously paid, Glover told the LA Times.
A hearing is scheduled April 28 to determine a date for the eviction lawsuit to go to trial. [Curbed]
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