Tinder co-founder Justin Mateen has made a significant $69-million investment in Hollywood real estate, acquiring the Hollywood Galaxy shopping center and the Petersen Building. This move contrasts with many institutional investors retreating from the Los Angeles market, as property values decline due to tenant loss from the pandemic. Despite this downturn, the Mateens see potential for growth, aiming to attract tenants while enhancing the properties. Mateen emphasizes his contrarian investment approach and optimistic view on LA's real estate resurgence, reinforcing his commitment to their local community amid challenging market conditions.
"I've always been a contrarian investor; whether it's startups, public markets or real estate, I take the long view and hold through cycles for forever."
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