TrizecHahn to Sell Complexes

TrizecHahn Corp. said that it anticipates selling the Hollywood & Highland and Paseo Colorado developments--both under construction--after late 2002 to focus on its office and technology center properties. In addition, the Canadian developer said it will sell its ownership stake in Desert Passage, a giant Las Vegas shopping mall that opened last year. Hollywood & Highland--a retail, entertainment and hotel complex in the heart of Hollywood--is scheduled to open in November. A 4,000-seat theater will serve as the permanent home to the Academy Awards show. The first phase of Paseo Colorado in Pasadena is scheduled to open in September. It will include 565,000 square feet of stores, restaurants and a 14-screen movie theater. More than 400 units of housing will be built above the stores.